Blacksands Petroleum, Inc Announces Closing of Private Placement

Released on = August 23, 2006, 9:20 am

Press Release Author = Buck Warner

Industry = Energy

Press Release Summary = Blacksands Petroleum, Inc. Announces Closing of Private
Placement With Gross Proceeds of $10,854,700

Press Release Body = August 22, 2006 -- Blacksands Petroleum, Inc (BSPE.OB) an
unconventional oil exploration and development company, announces that effective
August 9, 2006, the company closed a private placement of units of its securities.
Gross proceeds of $10,854,700 will be allocated to identify and acquire suitable
candidates/properties within the \"unconventional petroleum industry.\"
The funds will remain in escrow until a suitable acquisition candidate is identified
and acquired. If the Company fails to complete a business acquisition within 12
months after the closing of the offering, subscription proceeds will be promptly
returned to investors without interest or deduction.
Each Unit consisted of one share of common stock and one common stock purchase
warrant, entitling the holder to purchase one share of common stock at an exercise
price of $3.00 per share for a two year period commencing October 1, 2006. The Units
were offered at a price of $1.00 per Unit.
For complete details, investors, please read the 8K filing at www.sec.gov
About Blacksands Petroleum, Inc. (BSPE.OB)
Blacksands Petroleum, Inc. will engage in the unconventional oil exploration and
development industry, with operations located in Calgary, Alberta Canada. The
Company\'s strategy is to build shareholder value by pursuing full-cycle exploration
and development opportunities in unconventional oil, primarily in Canada.
Safe Harbor Statement: Matters discussed in these presentations contain
forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in these presentations the words \"anticipate,\"
\"believe,\" \"estimate,\" \"may,\" \"intend,\" \"expect\" and similar expressions identify
such forward-looking statements. Actual results, performance or achievements could
differ materially from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking statements are
based largely on the expectations of the Company, and are subject to a number of
risks and uncertainties. These include, but are not limited to, risks and
uncertainties associated with: the impact of economic, competitive and other factors
affecting the Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies resulting from terrorist
actions, and U.S. actions subsequently; and other factors detailed in reports filed
by the Company.



Web Site = http://

Contact Details = Buck Warner
buckwrnr@yahoo.com

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