VANCOUVER, BC, April 25,
2024 /CNW/ - Canada Energy Partners Inc. (NEX:
CE.H) (the "Company") announces that the board of directors of the
Company has decided not to proceed with the planned investment in
the Kustra Ochoa well #1 work-over project proposed by Wandoo Oil
Ltd. ("Wandoo") that was announced in the Company's news release
issued on May 9, 2023. The Company
has terminated the Participation Agreement with Wandoo and has no
further financial or any other obligations to Wandoo.
The Company anticipates calling a shareholders meeting in
approximately the end of August after the summer holiday period to
allow for shareholder participation.
The Company is working with the TSXV Venture Exchange to seek a
reinstatement of trading of the Company's common shares.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words or statements that certain events or
conditions "may" or "will" occur, including, without limitation,
estimated revenues. Forward-looking statements in this press
release include statements about the anticipated filing deadline
for the Annual Filings. Forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. These factors include,
without limitation, the failure to file the Annual Filings by the
anticipated date. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The
forward-looking statements contained in this press release are made
as of the date hereof, and the Company undertakes no obligation to
update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
so required by law.
SOURCE Canada Energy Partners Inc.