Canada Southern Petroleum (NASDAQ:CSPLF)
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Canada Southern Petroleum Ltd. Announces Director Nominee for
Annual Meeting; Files Definitive Proxy Statement
CALGARY, Alberta, April 29 /PRNewswire-FirstCall/ -- Canada Southern Petroleum
Ltd. (Nasdaq: CSPLF; Toronto/Boston/Pacific: CSW) today reported that the Board
of Directors has nominated Mr. John W. A. McDonald, the Company's newly
appointed President and Chief Executive Officer and a highly experienced
Canadian energy executive, for election by the shareholders to the Board of
Directors to replace Mr. Timothy L. Largay, a director since 1997, whose term
is expiring and who is not standing for re-election.
A Company spokesman said, "John McDonald is an accomplished executive with more
than 30 years of professional experience in the energy industry in Western
Canada. If elected, he would bring to the Board extensive knowledge and
experience on matters which are critical to the future success of the Company.
We are very pleased he has agreed to be nominated and look forward to working
with such a talented executive."
Mr. McDonald joined the Company, effective April 1, 2004, from AltaGas Services
Inc. where he most recently was in charge of that company's exploration and
production subsidiary. From 1989 until joining AltaGas in 1994, he held vice
president positions in operations, supply and marketing for Western Gas
Marketing Limited, a subsidiary of TransCanada Pipelines Limited. A more
extensive summary of Mr. McDonald's experience will be included in the
Company's proxy materials for the Annual General Meeting, which will be mailed
on or about May 16, 2004 to shareholders of record on April 27, 2004.
This announcement is not a proxy statement, nor is it a solicitation of any
proxies from the Company's shareholders. The Company's definitive proxy
statement has been filed today with the U.S. Securities and Exchange Commission
("SEC") and the Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval ("SEDAR"). This document may be obtained at
the SEC's website address of http://www.sec.gov/ or at http://www.sedar.com/.
A link to the Company's SEC filings can also be found on the Company website
address of http://www.cansopet.com/. The Company strongly advises all
shareholders to read its definitive proxy materials and other relevant
documents, when such become available after mailing on or about May 16, 2004.
These materials will contain important information that all shareholders should
consider carefully before making any decisions about the proposals that the
Company will be asking shareholders to approve at the 2004 Annual General
Meeting.
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: Randy Denecky, Chief Financial Officer of Canada Southern
Petroleum Ltd., +1-403-269-7741
Web site: http://www.cansopet.com/