Trafina Energy Ltd. and the proposed purchaser of the Company's entire working interest in its Rangeview and Divide assets located in southwest Saskatchewan have agreed to extend the date of closing to on or before January 31, 2012.

The extension requires the purchaser to pay an additional $50,000 non-refundable deposit to the Company by January 18, 2012 (failing which the purchase and sale will terminate).

In addition to the deposit, closing remains subject to satisfaction of other conditions customary for transactions of this nature. If completed, proceeds from the sale (including adjustments) are anticipated to be approximately $1.9 million and will be used to pay down the Company's debt.

Tags: Trafina Energy Ltd.