Capital Reserve Canada's Subsidiary Commences Work on 118 Well Project.EDMONTON, Alberta -- Capital Reserve Canada Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRSVF) ("CRC (Cyclical Redundancy Checking) An error checking technique used to ensure the accuracy of transmitting digital data. The transmitted messages are divided into predetermined lengths which, used as dividends, are divided by a fixed divisor. ") and its Chairman, Mr. Donald R. Getty, are pleased to announce that its wholly-owned subsidiary, KCP KCP Party of Communists of Kyrgyzstan KCP Khmer Citizen Party (Cambodia) KCP Kingston Computer Planet KCP knurling cup point (fasteners) KCP Kernel Control Path Innovative Services Inc. (KCP), is commencing a work program using KCP's technologies with a customer to test and measure productivity and profitability of 118 coal bed methane wells. The work program can be cancelled at any time, however, should it be completed, it will total approximately $4.1 million (CAD). Profile CRC is an oil and gas services company based in Edmonton, Alberta. Through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , KCP Innovative Services, Inc., CRC offers technologically advanced tools for use in four areas of the industry. The first aids in testing and development of newly found resources; another measures existing wells' productivity; and the third hastens well abandonment, ensuring compliance with regulatory emission guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. . The fourth, through its proprietary hardware and software technologies, is used to determine the profitability of coal bed methane deposits, which may be developed and sold as natural gas. CRC has a second wholly owned subsidiary, Two Hills Environmental, to assist with problem waste from oil & gas companies, and provide underground storage. Cautionary Note Regarding 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. Statements in this press release regarding CRC's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. CRC wishes to caution readers not to place undue reliance on such forward-looking statements and therefore speak only as of the date made. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in CRC's Annual Report on Form 20-F for the period ended December 31, 2005. |
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