Parex Resources Inc.
TSX VENTURE : PXT

Parex Resources Inc.

November 25, 2009 17:11 ET

Parex Resources Inc. Releases Third Quarter Results

CALGARY, ALEBRTA--(Marketwire - Nov. 25, 2009) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Parex Resources Inc. ("Parex" or the "Company") (TSX VENTURE:PXT) announces its operating and financial results for the period ended September 30, 2009. Copies of the Company's unaudited consolidated financial statements for the period ended September 30, 2009 and the related Management's Discussion and Analysis (MD&A) have been filed with Canadian Securities Regulatory Authorities and will be made available under the Company's profile at www.sedar.com and on the Company's website at www.parexresources.com.

Conference Call and Webcast

Parex will host a conference call and live webcast to discuss these results on Thursday, November 26, 2009 beginning at 10:30 am Mountain Standard Time (12:30 pm Eastern Standard Time). Media, analysts or any other interested parties wishing to participate in the call can access it by calling 403-537-9608 or 1-866-696-5910 (toll free in North America). No access codes are required.

The live audio webcast of the conference call will be available through Windows Media Player by following the link posted under the Investor Relations, News & Events section of the Company's website at www.parexresources.com. Following the conclusion of the call, a link to a replay of the webcast will also be posted on the Company's website.

About Parex

Parex is engaged in oil and natural gas exploration, development and production in South America and the Caribbean region. Parex is conducting exploration activities on its 489,000 acre (244,500 net acre) holdings in the Llanos Basin of Colombia and 211,000 acre (105,500 net acre) holdings onshore Trinidad & Tobago. Parex is headquartered in Calgary, Canada.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction.

Forward-Looking Statements

Certain statements regarding Parex, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Parex's control. Specifically, and without limitation, all statements included in this press release that address activities, events or developments that either Parex expects or anticipates will or may occur in the future, including management's assessment of future plans, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Parex's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Parex believe that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Although the forward-looking statements contained in this Press Release are based upon assumptions which management believes to be reasonable, Parex cannot assure shareholders that actual results will be consistent with these forward-looking statements. Accordingly, Parex cannot give any assurance or make any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward-looking statements. Parex cannot undertake any obligation to publicly update or revise any forward-looking statements other than required by applicable securities law.

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 release.

Contact Information

  • Parex Resources Inc.
    Michael Kruchten
    Manager, Investor Relations
    (403) 517-1733
    (403) 265-8216 (FAX)
    or
    Parex Resources Inc.
    Kenneth G. Pinsky
    Vice President, Finance and Chief Financial Officer
    (403) 517-1729
    (403) 265-8216 (FAX)
    www.parexresources.com