Alange Energy Aware of Potential Lawsuit
19 April 2011 - 1:30PM
PR Newswire (Canada)
TORONTO, April 19 /CNW/ -- TORONTO, April 19 /CNW/ - Alange Energy
Corp (TSXV: ALE) announced that it is aware of a press release by
an Ontario class action law firm announcing that a proposed class
action lawsuit has been commenced against the Company. The
Company has not been served with any such lawsuit. As such,
the Company is not in a position to comment on these developments.
About Alange Energy Corp. Alange Energy is a Canadian-based oil and
gas exploration and production company, with working interests in
12 properties in four basins in Colombia. Further information can
be obtained by visiting our website at www.alangeenergy.com. All
monetary amounts in U.S. dollars unless otherwise stated. This news
release contains certain "forward-looking statements" and
"forward-looking information" under applicable Canadian securities
laws concerning the business, operations and financial performance
and condition of Alange Energy Corp. ("Alange Energy").
Forward-looking statements and forward-looking information include,
but are not limited to, statements with respect to estimated
production and reserve life of the various oil and gas projects of
Alange Energy; the estimation of oil and gas reserves; the
realization of oil and gas reserve estimates; the timing and amount
of estimated future production; costs of production; success of
exploration activities; and currency exchange rate fluctuations.
Except for statements of historical fact relating to the company,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements are frequently characterized
by words such as "plan," "expect," "project," "intend," "believe,"
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on
factors and events that are not within the control of Alange Energy
and there is no assurance they will prove to be correct. Factors
that could cause actual results to vary materially from results
anticipated by such forward-looking statements include changes in
market conditions, risks relating to international operations,
fluctuating oil and gas prices and currency exchange rates, changes
in project parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks
of the oil and gas industry, failure of plant, equipment or
processes to operate as anticipated. Although Alange Energy has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Alange Energy undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements. Statements concerning
oil and gas reserve estimates may also be deemed to constitute
forward-looking statements to the extent they involve estimates of
the oil and gas that will be encountered if the property is
developed. Boe may be misleading, particularly if used in
isolation. A boe conversion ratio of 6 mcf:1 bbl is based on an
energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the
wellhead. Estimated values of future net revenue disclosed do not
represent fair market value. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/19/c5237.html
p Peter Volkbr/ General Counsel & Secretarybr/ 416-360-4653br/
a href="mailto:pvolk@alangecorp.com"pvolk@alangecorp.com/a /p
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