SOURCE: Capco Energy, Inc.

January 16, 2008 06:30 ET

Capco Terminates Plan to Divest Certain Assets

DALLAS, TX--(Marketwire - January 16, 2008) - Capco Energy, Inc. ("the Company" or "Capco") (PINKSHEETS: CGYN) today announces that the Company has terminated its plan to divest a wholly owned subsidiary to Pyramid Petroleum, Inc ("Pyramid"). Both parties have mutually decided not to extend the deadline of December 31, 2007 for the completion of this transaction.

Safe Harbor Statement under the Private Securities Litigation reform Act: The information herein contains forward-looking statements based on assumptions that may prove not to have been accurate. The business activities of Capco, as usual to its industry, are subject to many risks both calculable and incalculable. Included in these risks are oil and gas prices, the need to develop replacement reserves, the reliability of reserve estimates, and the feasibility of extracting reserves, environmental risks, drilling and operating risks, and the ability of the Company to implement its business strategy. These and other risks are identified in our SEC filings and should be considered in evaluating the forward-looking statements made herein. These risks could cause actual financial results to vary from those anticipated.

For further information about the Company please call Karen Myers at (972) 812-8150 or email at IR@capcoenergy.net.

Contact Information

  • Contact:
    Karen Myers
    (972) 812-8150