Mystique Energy Obtains Extension of Creditor Protection

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[{"type":"text","content":"\n\n\n\nCALGARY, April 14 /CNW/ - Mystique Energy Inc. ("Mystique") (MYS:TSX\nVenture) announces that it is anticipating making a final distribution of its\nremaining cash assets to its unsecured creditors during the upcoming six\nmonths.\n\n\nIn an application approved by the Court of Queen's Bench on 2008-03-31,\nthe order granting Mystique creditor protection under the Companies' Creditors\nArrangement Act (Canada) was extended until 2008-09-15.\n\n\nThe extension will provide additional time for Mystique to conclude the\nanticipated merger by way of an amalgamation or other business arrangement\nwith Petro Energy Corp. The final business arrangement will require approval\nby both companies and by regulatory agencies. During the extension period,\nMystique will make its final distribution of its remaining cash assets to its\nunsecured creditors. The initial distribution was made in 2008-01.\n\n\nTrading in Mystique shares will remain halted until such time as may be\ndetermined by the TSX Venture.\n\n\nDisclaimers\n\n\nCertain information regarding Mystique in this news release including\nmanagement's assessment of future plans and operations and the timing thereof,\nmay constitute forward-looking statements under applicable securities laws and\nmay necessarily involve risks including, without limitation, risks associated\nwith oil and gas exploration, development, exploitation, production, marketing\nand transportation, loss of markets, volatility of commodity prices, currency\nfluctuations, imprecision of reserve estimates, environmental risks,\ncompetition from other producers, inability to retain services, delays\nresulting from or inability to obtain required regulatory approvals, the\nability to access sufficient capital from internal and external sources and\nthe uncertainty involved in Court proceedings and the implementation of the\nPlan under the CCAA. As a consequence, Mystique's actual results, performance\nor achievements could differ materially from those expressed in, or implied\nby, these forward-looking statements and, accordingly, no assurance can be\ngiven that any events anticipated by the forward looking statements will\ntranspire or occur, or, if any of them do so, what benefits Mystique will\nderive therefrom. Readers are cautioned that the foregoing list of factors is\nnot exhaustive. Further...

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