TOU ANNOUNCES CLOSING OF $174 MILLION EQUITY OFFERING

17/05/2011

Tourmaline Oil Corp. is pleased to annonce that is has closed its public offering of 6,325,000 common shares at a price of $25.50 per share which includes 825,000 common shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters.  Concurrent with the closing of the public offering, certain directors, officers and employees of the Company and their associates, purchased a total of 500,000 common shares at the offering price of $25.50 per share on a private placement basis. The gross proceeds from the offering and concurrent private placement totalled $174,037,500.

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