Argenta Oil & Gas Inc.
TSX VENTURE : AZA

Argenta Oil & Gas Inc.

December 23, 2008 18:00 ET

Argenta Files Annual and Interim Financial Statements

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2008) -

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

Argenta Oil & Gas Inc. ("Argenta") (TSX VENTURE:AZA) is providing an update in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). Management of Argenta has been subject to a cease trade order in respect of securities of Argenta issued by the Ontario Securities Commission on November 5, 2008. The management cease trade order resulted from the delay in filing the Corporation's annual financial statements for the year ended June 30, 2008 which were required to be filed on October 28, 2008 and a delay in filing the interim financial statements for the period ending September 30, 2008 which were required to be filed on November 29, 2008. The late filing of the required statements was due to a delay by management in finalizing the financial results of its operating subsidiary, Argenta Energia Inc.

Argenta is pleased to announce that it has filed its financial statements for the year ended June 30, 2008 and its financial statements for the interim period ended September 30, 2008 and are available on SEDAR at www.sedar.com.

This press release includes "forward looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of Management and are 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. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, risks associated with the oil and gas industry (including operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of Argenta Oil & Gas Inc. to obtain all permits, consents or authorizations required for its operations and activities; and health safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the ability of Argenta Oil & Gas Inc. to fund the capital and operating expenses necessary to achieve the business objectives of Argenta Oil & Gas Inc., the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by Argenta Oil & Gas Inc. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of Argenta Oil & Gas Inc. should not place undue reliance on these forward-looking statements. Statements in relation to "reserves" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future.


Contact Information