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Carmen Energy Inc. announces termination of letter of intent to acquire Shorthorn Exploration Ltd.
CALGARY, Nov. 17, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (" Carmen " or the " Corporatio...
About this update from Cassiar Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Nov. 17, 2011 /CNW/ - Carmen Energy Inc. (TSXV: CEI) (\"Carmen\" or the \"Corporation\") is, effective immediately, terminating its obligations under the\n letter of intent between Carmen and Shorthorn Exploration Ltd.\n (\"Shorthorn\") dated September 15, 2011 (the \"LOI\"). Unfortunately a\n mutually acceptable definitive acquisition agreement has not yet been\n reached between Carmen and Shorthorn. Carmen will no longer pursue the\n acquisition of Shorthorn.\n\n\nCarmen will retain a 60% working interest in the horizontal Glauconitic\n development well in the Viking-Kinsella, Alberta area. Under the terms\n of the farmin agreement, Carmen is paying 100% of the costs to drill to\n the contract depth, abandonment, capping or completion, equipping and\n tie-in to earn a 60% working interest in the well and half-section of\n land the well is located on.\n\n\nAbout Carmen Energy Inc.: Carmen is based in Calgary, Alberta and a publicly traded oil and gas\n exploration and production company. The focus is on exploration and\n development of Western Canadian Sedimentary Basin based oil and gas\n properties. The current projects are the Jumpbush properties in south\n eastern Alberta, the Ferrybank properties in central Alberta, the\n Sylvan Lake area properties in Southern Alberta and the Hamburg\n properties in northern western Alberta.\n\n\nFORWARD LOOKING INFORMATION\n\n\nCertain information in this news release is forward-looking within the\n meaning of certain securities laws, and is subject to important risks,\n uncertainties and assumptions. This forward-looking information\n includes, among other things, the earning of the working interest and\n information with respect to the Corporation's beliefs, plans,\n expectations, anticipations, estimates and intentions and the\n activities of the Corporation after the Transaction.  The words \"may\",\n \"could\", \"should\", \"would\", \"suspect\", \"outlook\", \"believe\",\n \"anticipate\", \"estimate\", \"expect\", \"intend\", \"plan\", \"target\" and\n similar words and expressions are used to identify forward-looking\n information. . The forward-looking information in this news release describes the\n Corporation's expectations as of the date of this news release.\n\n\nThe results or events anticipated or predicted in such forward-looking\n information ma...