Eurocontrol Provides Update on Turkish Contract.TORONTO -- Eurocontrol Technics tech·nic n. 1. technics (used with a sing. or pl. verb) The theory, principles, or study of an art or a process. 2. technics (used with a pl. verb) Technical details, rules, or methods. 3. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:EUO EUO Examination Under Oath EUO Easyuo (Ultima Online scripting tool) EUO Offices in Europe (International Monetary Fund) EUO Union de l'Europe Occidentale (Western European Union, WEU) ) Further to Eurocontrol's press release dated January 5, 2006 on the rescission of the Turkey contract to its subsidiary, GFI GFI Ground Fault Interrupter GFI Go For It GFI Government-Furnished Information GFI Growing Families International GFI Goodness of Fit Indices GFI Government Financial Institutions (Philippines) GFI Gross Farm Income Petromark Ltd., the Company has now started legal proceedings in the Supreme Court of Turkey. GFI has retained a legal team headed by Mr. Dincer Sen, a well-known Turkish lawyer. EMRA EMRA Eastern Motor Racing Association EMRA Edmonton Motorcycle Roadracing Association EMRA East Midlands Regional Assembly EMRA Emergency Medicine Residents' Association EMRA Edmonton Model Railroad Association (Canada) (the Energy Market Regulatory Authority of Turkey), the entity responsible for awarding these contracts, has been officially notified by the Court of our appeal and has to respond within 30 days. Our lawyers now advise us that a decision will likely be made by early to mid February 2006. Eurocontrol's president, Gadi Gonen stated: "Our legal advisors have informed us that they feel positive about having the injunction granted in GFI's favor. This will then allow us to continue the process of having EMRA sign the contract to mark Turkey's oil supply. We therefore remain optimistic that the contract will be signed and that we can begin to execute the contract by May or sooner." It is important to note that GFI has spent significant time and effort at the highest levels of the Turkish government, along with trade representatives of Israel and Canada to Turkey, to make sure that proper legal conduct is followed by EMRA to honor the tender award won by GFI in November 2005. About Eurocontrol Technics Inc. Eurocontrol Technics Inc. a Canadian-based company trading on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "EUO." Eurocontrol is currently a minority owner of Global Fluids International S.A. (www.gfi-petromark.com) and is earning into a 51% interest (see press release dated November 10, 2005). THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE AD EQUACY OR ACCURACY OF THIS RELEASE Eurocontrol Technics Inc. (TSX VENTURE:EUO) |
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