Canada Southern Petroleum Ltd.

Canada Southern Petroleum Ltd.

March 07, 2005 18:43 ET

Canada Southern Petroleum Ltd. Announced Completion of Continuance and New Stock Trading Symbol


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANADA SOUTHERN PETROLEUM LTD.

TSX SYMBOL: CSW.LV
NASDAQ SYMBOL: CSPLF

MARCH 7, 2005 - 18:43 ET

Canada Southern Petroleum Ltd. Announced Completion of
Continuance and New Stock Trading Symbol

CALGARY, ALBERTA--(CCNMatthews - March 7, 2005) - Canada Southern
Petroleum Ltd. (the Company) (TSX:CSW.LV) (NASDAQ:CSPLF) (BOSTON:CSW)
(PCX:CSPLF) today announced that its continuance as a corporation
governed by the Business Corporations Act (Alberta) has been completed
and that commencing on the opening of trading on Wednesday, March 9,
2005 trading of its common shares on the Toronto Stock Exchange would
continue under the new stock symbol "CSW". The change in stock symbol
denotes that the common shares of the Company post-continuance are no
longer subject to any limitations on voting rights. The Company's shares
will continue to be traded on Nasdaq and the Pacific Exchange under the
symbol "CSPLF" and on the Boston Exchange under the symbol "CSW".

Mr. Richard C. McGinity, the Company's Chairman of the Board of
Directors, commented "We are pleased that the Board's initiatives with
respect to modernizing the corporate governance of the Company have been
implemented through the continuance. The continuance will result in
holders of our common shares enjoying shareholders rights similar to
those enjoyed by most shareholders, rather than the limited rights which
they enjoyed while the Company was governed by the Nova Scotia
legislation."

Canada Southern Petroleum Ltd. is an independent energy company based in
Calgary, Alberta, Canada. The Company is engaged in oil and gas
exploration and development, with its primary interests in producing
properties in the Yukon Territory and British Columbia, Canada. The
Company's limited voting shares are traded on the NASDAQ SmallCap Market
and the Pacific Exchange, Inc. under the symbol "CSPLF," on the Toronto
Stock Exchange under the symbol "CSW.LV" and on the Boston Stock
Exchange under the symbol "CSW." The Company has 14,417,770 shares
outstanding.

Any statements in this release that are not historical in nature are
intended to be, and are hereby identified as "forward-looking
statements" for purposes of the "Safe Harbor Statement" under the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in the
forward-looking statements. Among these risks and uncertainties are
uncertainties as to the costs, pricing and production levels from the
properties in which the Company has interests, the extent of the
recoverable reserves at those properties, and the significant costs
associated with the exploration and development of the properties in
which the Company has interests, particularly the Kotaneelee field. The
Company undertakes no obligation to update or revise forward-looking
statements, whether as a result of new information, future events, or
otherwise. The Company does caution, however, that results in 2004 will
be significantly lower than in 2003, which were favorably affected by
settlement of the Kotaneelee litigation.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Canada Southern Petroleum Ltd.
    John W.A. McDonald
    President and Chief Executive Officer
    (403) 269-7741