Purchase of Alange Energy Common Shares by Directors
21 April 2011 - 1:30PM
PR Newswire (Canada)
TORONTO, April 21 /CNW/ -- TORONTO, April 21 /CNW/ - Alange Energy
Corp (TSXV: ALE) announced today that two of its directors, Mr.
Serafino Iacono and Mr. Miguel de la Campa have collectively
purchased 1 million common shares of the Company on the open market
at an average price of $0.2792. In addition to the common shares
owned, directly or indirectly, by each of them prior to their
appointment as directors of the Company, they collectively now own,
directly or indirectly, approximately 8.1 million shares of the
Company. The purchase is a reflection of their commitment and
long-term confidence in the Company. 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/April2011/21/c6050.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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