Canadian 88 Board Forms Special Committee To Review Strategic Alternatives, Enhance Shareholder Value.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Oct. 10, 2000 The Board of Directors of Canadian 88 Energy Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :EEE EEE eastern equine encephalomyelitis. EEE eastern equine encephalomyelitis. .)(AMEX AMEX See: American Stock Exchange :EEE) today announced that it has established a Special Committee to review strategic alternatives and identify opportunities to enhance shareholder value. The Board has taken this initiative in the belief that the strong fundamentals for high quality natural gas assets and prospects are not reflected in current valuations and are more likely to be realized through such a strategic review process. Compelling reasons to initiate the process at this time include: high natural gas commodity prices; large working interests in significant company-operated gas fields, most with strategic infrastructure; an inventory of excellent high-impact natural gas exploration prospects; the world class potential of the company's holdings on the East Coast of Canada; imminent expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of current gas hedges on October 31, 2000; and tax pools in excess of $400 million. Duke Energy, whose investment in Canadian 88 was tactical rather than strategic, is solidly behind the strategy to enhance value for all shareholders. Canadian 88 has a very active exploration and development program scheduled well into 2001, which will continue parallel to and unimpeded unimpeded Adjective not stopped or disrupted by anything Adj. 1. unimpeded - not slowed or prevented; "a time of unimpeded growth"; "an unimpeded sweep of meadows and hills afforded a peaceful setting" by the strategic review process. The Special Committee will begin the review immediately and, when appropriate, the Company will issue a further statement to outline how the process will proceed. Canadian 88 Energy Corp. (EEE) is an independent public oil and gas company with its head office in Calgary, Alberta, Canada. The shares of Canadian 88 Energy Corp. are traded on the Toronto and American Stock Exchanges This is a list of American stock exchanges. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term Bolsa de Valores, meaning 'bag' or 'purse' of 'values'. . The information contained herein has neither been approved nor disapproved by the respective Exchanges. |
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