CanArgo Comments on Meeting with President Saakashvili.Energy Editors/Business Editors TBILISI, Republic of Georgia--(BUSINESS WIRE)--Feb. 18, 2004 CanArgo Energy Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GUSH) (OSE OSE - Open Systems Environment :CNR See riser card. CNR - Communication and Network Riser ) today commented on the President of CanArgo, Dr. David Robson's meeting yesterday with the President of Georgia The President of Georgia (Georgian: საქართველოს პრეზიდენტი) is the head of state and commander-in-chief of Georgia. Presidents serve five-year terms. , Mikhail Saakashvili. Dr. Robson commented, "I was extremely pleased to meet President Saakashvili to brief him on CanArgo's plans for its projects in Georgia. We discussed our current ongoing development programme on the Ninotsminda Field, the recent and very exciting Manavi oil discovery, the potential for new production projects in Georgia, and our continuing exploration programme. I assured the President of our continued and indeed increased support for investment in our projects and in particular our plans to appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. the Manavi discovery. The President expressed his strong support for our activities and future plans. I believe that we share the common goal of developing Georgia's significant oil and gas resources for the benefit of the Georgian people. This meeting has reaffirmed my personal commitment to Georgia, and in parallel with our recent new discovery, I believe that CanArgo should move forward aggressively with its investment programme, building on its position as the most active exploration and production company in Georgia." CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in the Republic of Georgia and the Caspian area. Further information on the Company is available at www.canargo.com and at http://www.sec.gov. The matters discussed in this press release include forward looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company's reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are intended to help shareholders and others assess the Company's business prospects and should be considered together with all information available. They are made in reliance upon the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. The company cannot give assurance that the results will be attained. NOTE: There is a Photo available on CCNMatthews' website at http://www2.cdn-news.com/database/fax/2000/CAN0218.pdf |
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