Canada Southern Petroleum Ltd. Announces Director Nominee for Annual Meeting; Files Definitive Proxy Statement
30 April 2004 - 12:47AM
PR Newswire (US)
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/
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