Churchill Energy Inc.
TSX VENTURE : CEI

Churchill Energy Inc.

November 16, 2006 08:30 ET

Churchill Announces Sale of Non-Core Property

CALGARY, ALBERTA--(CCNMatthews - Nov. 16, 2006) - Churchill Energy Inc. ("Churchill") (TSX VENTURE:CEI) has disposed of the majority of its non-operated oil production in SE Saskatchewan. Churchill sold approximately 50 bop/d of non-core production for approximately $3.4 million. The transaction was effective November 1, 2006 and closed on November 15, 2006.

Churchill is a Calgary-based junior oil and natural gas company with operations in Alberta and Saskatchewan. The common shares of Churchill are listed on the TSX Venture Exchange and trade under the symbol "CEI".

Forward Looking Statements: Certain information regarding Churchill in this news release may constitute forward-looking statements under applicable securities laws and necessarily involve risks. As a consequence Churchill's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or, if any of them do so, what benefits Churchill will derive therefrom. Additional information on risk factors that could effect Churchill's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), at Churchill's website (www.churchillenergy.ca). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Churchill 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Churchill Energy Inc.
    Kelly D. Cowan
    Chief Executive Officer
    (403) 693-3001
    Email: kcowan@churchillenergy.ca
    or
    Churchill Energy Inc.
    James P. Baker
    President
    (403) 698-8242
    Email: j.baker@churchillenergy.ca
    or
    Churchill Energy Inc.
    780, 700 - 4th Avenue S.W.
    Calgary, Alberta T2P 3J4