CanArgo Energy Corporation: Vincent McDonnell Appointed Director.Business Editors OSLO, Norway--(BUSINESS WIRE)--May 2, 2003 CanArgo Energy Corporation ("CanArgo")(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GUSH)(OSE OSE - Open Systems Environment :CNR See riser card. CNR - Communication and Network Riser ) today announced that Mr Vincent McDonnell has been appointed to the position of director on the Board of CanArgo Energy Corporation in addition to his current duties as Chief Financial Officer and Chief Commercial Officer. CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in the Republic of Georgia, Ukraine and the Caspian Sea Caspian Sea (kăs`pēən), Lat. Mare Caspium or Mare Hyrcanium, salt lake, c.144,000 sq mi (373,000 sq km), between Europe and Asia; the largest lake in the world. . 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 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 can not give assurance that the results will be attained. |
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