SOURCE: KAL Energy, Inc.

April 04, 2007 08:22 ET

KAL Energy, Inc. Successfully De-Lists Its Stock From the Berlin-Bremen Stock Exchange

LONDON -- (MARKET WIRE) -- April 4, 2007 -- KAL Energy, Inc. (OTCBB: KALG) had recently been informed that an unauthorized listing of the Company's stock on the Berlin-Bremen Stock Exchange (BBSE) had occurred in February 2007. In an effort to protect their shareholders, KAL Energy's counsel informed the BBSE that it did not authorize the listing of its shares on any Berlin exchange. As of the close of trading on March 30, 2007 KAL Energy's stock has been de-listed from the BBSE. Shares traded on the BBSE are not recognized by KAL Energy.

KAL Energy was one of numerous U.S. listed companies that were added to the Berlin-Bremen Stock Exchange without permission. These listings may be part of an effort by stock traders to avoid recently enacted SEC restrictions prohibiting "naked short selling." Such practices may allow for market manipulation by selling non-existent shares of a stock in an effort to force the price down.

"We are very pleased that we have successfully de-listed our company's stock from the Berlin-Bremen Stock Exchange," stated Cameron Reynolds, KAL Energy's CEO. He added, "Many media reports have indicated that the exchange may be a haven for naked shorters whose illegal activities could have a detrimental effect on our company's stock. As always, we will be extremely vigilant in protecting our company and its shareholders."

About KAL Energy:

KAL Energy's wholly owned subsidiary Thatcher Mining Pte. has the rights to two coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. This river is a main transportation system for transporting coal to nearby markets. Consulting Geologist, Jonathan O'Dell, has estimated that blocks 16 & 24 could contain over 192,000,000 tons of thermal coal. Today Indonesia is the leading exporter of thermal coal and export prices vary from $30.00 to $60.00 plus per ton. For more information on KAL Energy, Inc. please visit our web site at www.kalenergyinc.com

Cameron Reynolds,

Chief Executive Officer

KAL ENERGY INC.

Contact Information

  • Contact:
    KAL Energy, Inc.
    93-95 Gloucester Place
    London W1U 6JQ
    Telephone: 44 207 487 8426
    Fax: 44 207 487 8402