Norex Exploration Services Inc.

Norex Exploration Services Inc.

September 21, 2007 09:18 ET

Norex Announces Cancellation of South American Acquisition

CALGARY, ALBERTA--(Marketwire - Sept. 21, 2007) - Norex Exploration Services Inc. (TSX:NRX) ("Norex" or the "Company") today announced that it has terminated its negotiations to purchase South American Exploration LLC ("SAE").

As a result of its decision to discontinue its acquisition of SAE, Norex has also cancelled its private placement equity offering, the proceeds of which were to be used to fund the acquisition.

Norex, and its divisions Conquest Seismic Services and US subsidiary, Conquest Seismic Services, Inc., provide premium 2D, 3D and 4D land-based seismic data acquisition services in Canada and the United States. Norex is the largest operator of ARAM-ARIES® recording equipment in Canada and provides state-of-the-art technology to the North American oil and gas industry. Norex trades on the TSX under the symbol "NRX".

Contact Information

  • Norex Exploration Services Inc.
    Mr. Paul Crilly
    President and CEO
    (403) 216-5929
    Norex Exploration Services Inc.
    Mr. Rob Morin
    Vice-President Finance and CFO
    (403) 216-5923