Contact Information: Contacts: John Works Chief Executive Officer Rancher Energy Corp. 303-629-1125 Jay Pfeiffer Pfeiffer High Investor Relations, Inc. 303-393-7044
Rancher Energy Corp. Retains Growth Capital Partners, L.P. as Financial Advisor
| Source: Rancher Energy
DENVER, CO--(Marketwire - August 7, 2008) - Rancher Energy Corp. (OTCBB : RNCH ) today
announced that it retained Growth Capital Partners, L.P. as the Company's
financial advisor to consider strategic alternatives, including the
possible sale of the Company.
John Works, president and CEO of Rancher Energy, said Growth Capital
Partners will assist the Company in exploring various sale, financing and
other alternatives. Works said that Rancher Energy will not necessarily
disclose developments or progress regarding the exploration of strategic
alternatives until a transaction has been agreed upon. He added that the
process may take several months, although there is no assurance that a
transaction will be completed.
About Rancher Energy Corp.
Rancher Energy is an innovative oil & gas exploration & development company
with a targeted strategy to reinvigorate older, historically productive oil
fields in the hydrocarbon-rich Rocky Mountain region of the United States.
Using CO2 injection coupled with other leading edge hydrocarbon recovery
techniques, including 3-D seismic data and directional drilling, Rancher
Energy expects to extract proven in-place oil that remains behind in mature
fields. Rising energy demand and strong oil & gas prices combined with
advances in oil recovery have made this strategy profitable. Rancher
Energy is taking advantage of this convergence by acquiring low risk, high
quality, historically productive plays with under-exploited reserves and
developing customized enhanced recovery strategies to maximize production.
About Growth Capital Partners, L.P.
Growth Capital Partners, L.P. is a premier, client-focused investment and
merchant bank serving both private and public middle-market companies.
Since the firm's inception in 1992, GCP has completed in excess of 200
transactions, raised more than $1 billion of institutional capital (through
private placements of equity, subordinated, and senior debt), and completed
merger and acquisition transactions with an aggregate value of
approximately $4.0 billion. For more information on Growth Capital
Partners' services, please contact John McNabb at
jmcnabb@growth-capital.com or visit our website at www.growth-capital.com.
Forward-Looking Statements
This press release includes forward-looking statements as determined by the
U.S. Securities and Exchange Commission (the "SEC"). All statements, other
than statements of historical facts, included in this press release that
address activities, events, or developments that the Company believes or
anticipates will or may occur in the future are forward-looking statements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include the Company's
ability to obtain financing to construct pipeline and other infrastructure
and for other operational and working capital purposes, the uncertainty of
recovery factors for the enhanced oil recovery projects, the volatility of
oil prices, availability of CO2 and performance of related contractual
obligations, general economic and business conditions, and other factors
over which the Company has little or no control. The Company does not
intend (and is not obligated) to update publicly any forward-looking
statements. The contents of this press release should be considered in
conjunction with the warnings and cautionary statements contained in the
Company's recent filings with the SEC.