CanArgo Energy Corporation: Conference Call Postponed.TBILISI, Georgia -- CanArgo Energy Corporation (Amex:CNR See riser card. CNR - Communication and Network Riser ) (OSE OSE - Open Systems Environment :CNR) (the "Company") today postponed the conference call scheduled for today at 10:00 a.m. US Eastern Time (16:00 pm Central European Time Central European Time Noun the standard time adopted by Western European countries one hour ahead of Greenwich Mean Time, corresponding to British Summer Time Abbrev: (CET) ) on Tuesday, November 16, 2004 to update shareholders on its third quarter 2004 financial results for the period ended September 30, 2004 and to discuss current operations in Georgia. This was due to the filing of a form 12b-25 as the Company was unable to timely file its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the 3-month period ended September 30, 2004 (the "Quarterly Report") due to delays the Company has experienced in finalizing the financial information contained in the Quarterly Report and as a result of continuing discussions with its independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. regarding the disclosure contained in Item 4. Controls and Procedures. The Company intends to file the Quarterly Report with the Securities and Exchange Commission within the five-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. The call will be re-scheduled and details will be provided in the near future. 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. The matters discussed in this press release include 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. , 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 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, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained. |
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