Marauder Resources East Coast Inc.

Marauder Resources East Coast Inc.

November 09, 2006 16:46 ET

Marauder Resources East Coast Inc.: News Release

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2006) -

Not for dissemination in the United States of America.

Marauder Resources East Coast Inc. (TSX VENTURE:MES). Marauder announces that Dean G. Prodan, a Director of Marauder since November 2004, has tendered his resignation to Marauder's Board effective immediately. Management and the Board would like to thank Mr. Prodan for his exemplary service and look forward to continuing a strong relationship with him.

Marauder is pleased to announce that John C. Loewen has been appointed to the Marauder Board of Directors in Mr. Prodan's place. Mr. Loewen is the Chief Executive Officer of Loewen & Partners Corporate Services Inc., an investment banking firm that specializes in assisting private company's access institutional growth capital since 2002. Mr. Loewen has 19 years of international experience in finance.

Forward-Looking Statements

This news release contains statements about oil and gas production and operating activities that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions.

Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by Marauder and described in the forward-looking statements.

These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Marauder's operations or financial results, are included in Marauder's reports on file with Canadian securities regulatory authorities.

We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

This announcement is not an offer to sell, or a solicitation of an offer to buy, Marauder's shares in the United States. Marauder's shares have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and have not been and will not be offered or sold in the United States except in transactions exempt from the registration requirements of that Act and applicable U.S. state securities laws.

BOEs derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil (6 Mcf: 1 bbl). BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

Contact Information

  • Marauder Resources East Coast Inc.
    Robert V. Shields
    (403) 262-3907