Bandon Capital Resources Ltd.

Bandon Capital Resources Ltd.

December 17, 2007 14:22 ET

Bandon Capital Resources Announces Officer Changes

CALGARY, ALBERTA--(Marketwire - Dec. 17, 2007) - Bandon Capital Resources Ltd. ("Bandon" or the "Company") (TSX VENTURE:BAR) announces that David N. Matheson, Chief Financial Officer of the Company, tendered his resignation effective December 13, 2007. Mr. Matheson will continue to provide consulting services to the Company. Richard J. Boswell has replaced Mr. Matheson as Chief Financial Officer in addition to his duties as President of the Company. The Company also announces that it will not proceed with the private placement of 1,000,000 Units of the Company at a price of $0.10 per Unit for gross and net proceeds of $100,000 as announced in a previous press release dated July 31, 2007.

About Bandon Capital Resources

Bandon Capital Resources is a newly formed publicy traded junior oil and gas company focused on exploration and development of oil and natural gas prospects in the Western Sedimentary Basin.


This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Issued Common Shares: 28,942,308

The TSXV has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bandon Capital Resources Ltd.
    Richard J. Boswell
    President and Chief Executive Officer
    (403) 510-2957
    Bandon Capital Resources Ltd.
    #850, 555 - 4th Avenue SW
    Calgary, Alberta T2P 3E7