China Energy Ventures Corp. Acquires Outstanding 25% of Big Sky Energy Atyrau Ltd.CALGARY, Alberta -- China Energy Ventures Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CEVC CEVC Church of England Voluntary Controlled (UK schools) CEVC Chaîne de l'Espoir pour les Violentés Conjugaux CEVC Commission d'enquête sur le viaduc de la Concorde CEVC Carolina Electric Vehicle Coalition, Inc. ) (the "Company") announced today that it has acquired the remaining 25% interest in its subsidiary, Big Sky Energy Atyrau Ltd. ("Big Sky"). This acquisition was made via a Share Exchange Agreement, under which the Company will issue 3.5 million common shares to the at arms length owner of the 25% interest. Big Sky, 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. , Vector Energy West LLP LLP - Lower Layer Protocol , owns the Atyrau and Liman-2 licenses, located on the north shore of the Caspian Sea, western Kazakhstan. These blocks, which the Kazakh government attributes 325 million barrels of possible reserves, are approximately 15,000 square kilometers in areal extent. "We are pleased to have 100% of these highly prospective blocks." stated Matthew Heysel, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company. "We will now accelerate our exploration and development programs with an intensive drilling program planned for 2005." Note: The information contained in this press release contains forward looking statements which are based on the current expectations of the management of China Energy Ventures Corp. only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to China Energy Ventures, please refer to its 10-KSB and 10 QSB reports filed with the U.S. Securities and Exchange Commission. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion