CALGARY, April 25 /CNW/ - Blackpool Exploration Ltd. (BPX.A - TSX Venture Exchange) wishes to announce that it has entered into a formal agreement for the purchase of all of the shares of C2 Energy Inc., a private oil and gas company, having its head office in Calgary, Alberta, as announced in the Company's Press Release dated March 7, 2005 and Material Change Report dated March 9, 2005. The closing date of the transaction has been extended by mutual agreement of the parties from April 15, 2005 to May 11, 2005. In addition, the Company wishes to announce that the closing of the proposed private placements of Units and Flow-Through Shares, which were also announced by the Company's Press Release on March 7, 2005, Material Change Report dated March 9, 2005 and Press Release dated March 31, 2005, has been extended from April 14, 2005 to May 10, 2005. The Company is in the process of arranging bridge financing for the difference between the amount to be raised under the private placement of Units and the purchase price of the shares of C2 Energy Inc. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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