Arakis Considering Financing Alternatives.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--July 16, 1998--Arakis Energy Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AKSEF) announced today that it has formed a committee comprised of members of the Board of Directors and management to assess its corporate alternatives, including the sale of the Company. Arakis also continues to explore opportunities for financing its share of project expenditures. Midland Walwyn Capital Inc. will act as a principal advisor of Arakis in respect of any sale, merger, acquisition or other corporate reorganization The process of carrying out, through agreements and legal proceedings, a business plan for winding up the affairs of, or foreclosing a mortgage upon, the property of a corporation that has become insolvent. , and in the management of a data room for prospective bidders.
CONTACT: Arakis Energy Corporation
Tom G. Milne, 403/213-6711
or
Arakis Energy Corporation
Raymond P. Cej, 403/213-6764
403/263-8069 (FAX)
investor@arakis.com
http://www.arakis.com
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