Reef Resources Ltd.
TSX VENTURE : REE

Reef Resources Ltd.

November 24, 2009 18:59 ET

Reef Resources Ltd. Announces Clarification for Application for Management Cease Trade Order

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2009) -

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

Reef Resources Ltd. ("Reef" or the "Corporation") (TSX VENTURE:REE) announces clarification of its press release issued on November 20, 2009.

The application for Management Cease Trade Order ('MCTO') is under review by Alberta Securities Commission (ASC) at present and there is no guarantee for its issuance. If a MCTO is granted by ASC, the general investing public will still be able to trade Reef shares, however, the Corporation's Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade Reef shares.

About Reef Resources Ltd.

Reef was formed to participate in the exploration, development and production of conventional crude oil and natural gas reserves in Ontario, Alberta and Saskatchewan. The Company's strategy is to build shareholder value through internally generated exploration and development drilling as well as through selective acquisitions and mergers.

Forward Looking Statements - This news release contains certain forward-looking statements, which include assumptions with respect to raising funds and future capital expenditures. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. 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.

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

  • Reef Resources Ltd.
    Arnie Hansen
    President & CEO
    (403) 251-9447
    (403) 251-9553 (FAX)
    or
    Reef Resources Ltd.
    Tariq S. Malik CA
    CFO
    (403) 975-6242
    (403) 251-9553 (FAX)