Cease Trade Order Issued Against Odyssey Petroleum
20 November 2009 - 8:36AM
Marketwired Canada
Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) (the "Company" or
"ODE") announces that the B.C. Securities Commission issued a Cease Trade Order
against the Company on November 18, 2009 for ODE's failure to SEDAR file annual
oil and gas forms as prescribed by National Instrument 51-101 Standard of
Disclosure for Oil and Gas Activities ("NI 51-101") for the year ended December
31, 2008 within the time required. The TSX Venture Exchange subsequently
suspended trading in the Company's securities as a result of the Cease Trade
Order.
The Company is in receipt of an Evaluation Report prepared by Fletcher Lewis
Engineering Ltd., and is in the process of finalizing the required oil and gas
forms as prescribed by NI 51-101 for SEDAR filing, which it anticipates
completing within the next week. Once the CTO has been revoked, the Company will
immediately apply to the TSX Venture Exchange for reinstatement for trading.
About Odyssey Petroleum Corp. Odyssey Petroleum Corp. is a Canadian based junior
oil and gas company traded publicly under the symbol ODE on the TSX-V Exchange.
The Company's mission is the discovery and development of economic oil and gas
through the exploration of high quality projects located primarily in the
Southeastern United States. Odyssey Petroleum Corp.'s website is
www.odysseypetroleum.com.
ON BEHALF OF THE BOARD
Whitney Pansano, President & COO
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors identified in
ODE's periodic filings with Canadian and European Securities Regulators. Such
forward-looking information represents management's best judgment based on
information currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. ODE does not assume the
obligation to update any forward-looking statement.
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