Canada Southern Petroleum Ltd. Announces Resignation of Michael Stewart as a Director
21 August 2004 - 8:00AM
PR Newswire (US)
Canada Southern Petroleum Ltd. Announces Resignation of Michael
Stewart as a Director CALGARY, Alberta, Aug. 20
/PRNewswire-FirstCall/ -- Canada Southern Petroleum Ltd. (NASDAQ,
Pacific and Boston: CSPLF; Toronto/Boston: CSW) today announced
that D. Michael G. Stewart, a Company director since June 2003, for
personal reasons has submitted to the Company his resignation as a
director of the Company, effective as of August 23, 2004. Richard
C. McGinity, the Company's Chairman of the Board of Directors said,
"We regret Mike's decision to resign from our Board of Directors.
On behalf of the entire Board and senior management of the Company,
I would like to personally thank Mike for his contributions to
Canada Southern during his tenure on the Board, particularly for
his service as Chairman of the Audit Committee. We wish Mike all
the best in the future." The Board of Directors has commenced a
search for Mr. Stewart's replacement on the Board. The Company
intends to announce its appointment of Mr. Stewart's successor as
soon as practicable. Canada Southern Petroleum Ltd. is an
independent energy company based in Calgary, Alberta, Canada. The
Company is engaged in oil and gas exploration and development, with
its primary interests in producing properties in the Yukon
Territory and British Columbia, Canada. The Company's limited
voting shares are traded on the NASDAQ SmallCap Market and the
Pacific Exchange, Inc. under the symbol "CSPLF," and on the Boston
Stock Exchange and the Toronto Stock Exchange under the symbol
"CSW." The Company has 14,417,770 shares outstanding. Any
statements in this release that are not historical in nature are
intended to be, and are hereby identified as "forward-looking
statements" for purposes of the "Safe Harbor Statement" under the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
indicated in the forward-looking statements. Among these risks and
uncertainties are uncertainties as to the costs, pricing and
production levels from the properties in which the Company has
interests, the extent of the recoverable reserves at those
properties, and the significant costs associated with the
exploration and development of the properties in which the Company
has interests, particularly the Kotaneelee field. The Company
undertakes no obligation to update or revise forward-looking
statements, whether as a result of new information, future events,
or otherwise. DATASOURCE: Canada Southern Petroleum Ltd. CONTACT:
John W.A. McDonald, President and Chief Executive Officer of Canada
Southern Petroleum Ltd., +1-403-269-7741 Web site:
http://www.cansopet.com/
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