Canoro/Centurion Consortium Agreement.CALGARY, Alberta--(BUSINESS WIRE)--Oct. 8, 1997--CANORO RES.(VSE See DOS/VSE. VSE - Virtual Storage Extended :CNS See Continuous net settlement. CNS See continuous net settlement (CNS). .) Further to the News Release dated July 24, 1997, whereby the Company announced a bid and study agreement to form a 50:50 consortium with an Internationally focused Canadian oil and gas corporation, the Company is pleased to announce that the name of this corporation is Centurion Energy International Inc. (Centurion), (CUX on TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ). Centurion currently has working interests in several producing and exploratory properties in Tunisia, and a working interest in an exploratory block in Egypt. The Canoro/Centurion consortium, together with its Indian partner, Gujarat State Petroleum Corporation Gujarat State Petroleum Corporation Ltd (GSPC) is an oil and gas exploration company in Gujarat, India. As of today, it's India's only State Government-owned company oil and gas company with the Government of Gujarat holding approximately 95% equity stake in the company. Ltd. (GSPC Noun 1. GSPC - an Algerian extremist Islamic offshoot of the Armed Islamic Group; now the largest and most active armed terrorist group in Algeria that seeks to overthrow the government; a major source of support and recruitment for al-Qaeda operations in Europe and ) are reviewing oil and gas areas of potential interest to the Consortium, in preparation for the upcoming Third Round of properties to be offered by the Government of India The Government of India (Hindi: भारत सरकार [3]Bhārat Sarkār), officially referred to as the Union Government, and commonly as Central Government . This News Release contains certain statements that involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canoro and Centurion to be materially different from any future results, performances or achievements expressed or implied by the statements made herein. Such factors include uncertainties as to obtaining government of India approvals, negotiating production sharing contracts with the government of India, and finalizing joint operating agreements between Canoro, Centurion and GSPC. ON BEHALF OF THE BOARD OF DIRECTORS OF CANORO RESOURCES LTD. "Ron Sandnes" Ron Sandnes, Director CONTACT: Sterling Pacific Capital Inc. Don Flahiff, or John Lando, 800/663-0510 (Toll Free) or 604/669-2701 E-mail: spc@helix.net Website: http://www.sterlingpac.com/canoro |
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