CanArgo Energy Corporation

CanArgo Energy Corporation

February 25, 2005 18:03 ET

CanArgo Energy Corporation: Webcast of 2004 Results and Drilling Update


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANARGO ENERGY CORPORATION

AMEX, OSLO STOCK EXCHANGE SYMBOL: CNR

FEBRUARY 25, 2005 - 18:03 ET

CanArgo Energy Corporation: Webcast of 2004 Results
and Drilling Update

NEW YORK, USA and OSLO, NORWAY--(CCNMatthews - Feb. 25, 2005) - CanArgo
Energy Corporation (OSE:CNR) (AMEX:CNR) ("CanArgo") announced today that
it would webcast its fourth quarter and year-end results presentation
for the period ended December 31, 2004. During the presentation, the
Company will discuss the financial results and current operations in
Georgia. Investors may access the presentation via the Internet by going
to

http://www.vcall.com/CEPage.asp?ID=90878

The presentation will be available beginning at 4:30 am eastern time
(11:30 am Central European time) on Tuesday, March 1st, 2005, or via
replay for up to 90 days after the event is completed.

CanArgo is an independent oil and gas exploration and production company
with its oil and gas operations currently located in the Republic of
Georgia and the Caspian area.

The matters discussed in this press release include forward-looking
statements, which are subject to various risks, uncertainties and other
factors that could cause actual results to differ materially from the
results anticipated in such forward-looking statements. Such risks,
uncertainties and other factors include the uncertainties inherent in
oil and gas development and production activities, the effect of actions
by third parties including government officials, fluctuations in world
oil prices and other risks detailed in the Company's reports on Forms
10-K and 10-Q filed with the Securities and Exchange Commission. The
forward-looking statements are intended to help shareholders and others
assess the Company's business prospects and should be considered
together with all information available. They are made in reliance upon
the safe harbor provisions of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The Company cannot give assurance that the results will be
attained.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    CanArgo Energy Corporation
    Julian Hammond
    Investor Relations Manager
    +44 7740 576 139
    +44 1481 729 982 (FAX)
    Email: info@canargo.com
    or
    Gambit H&K AS - NORWAY
    Regina Jarstein
    + 47 95213451
    or
    CEOcast.com - USA
    Michael Wachs
    +1 212 732 4300