Parex Resources Inc.
TSX VENTURE : PXT

Parex Resources Inc.

September 26, 2011 17:17 ET

Parex Resources Announces Approval for TSX Listing

CALGARY, ALBERTA--(Marketwire - Sept. 26, 2011) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Parex Resources Inc. ("Parex" or the "Company") (TSX VENTURE:PXT), a company focused on oil exploration and production in Colombia and Trinidad, is pleased to announce that the Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Corporation's common shares and convertible debentures.

Upon receiving final approval from the TSX, the Company's common shares and convertible debentures will begin trading on the TSX on or about October 3, 2011 under the symbols "PXT" and "PXT.DB". Parex has made an application to the TSX Venture Exchange ("TSX-V") to voluntarily delist its common shares from the TSX-V, such delisting to be effective as of the date the Company's common shares commence trading on the TSX.

Corporate Overview

Parex, through its direct and indirect subsidiaries, is engaged in oil and natural gas exploration, development and production in South America and the Caribbean region. Parex is conducting exploration activities on its 705,000 acre holdings in the Llanos Basin of Colombia and 223,500 acre holdings onshore Trinidad. Parex is headquartered in Calgary, Canada.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction.

Advisory on Forward Looking Statements

This news release contains certain forward-looking statements, including with respect to receipt of the TSX's final approval and the voluntary delisting from the TSXV, that are based on Parex' current expectations and assumptions which are subject to certain risks and uncertainties. These risks include but are not limited to failure to obtain required regulatory approvals. In this news release, such forward-looking statements can be identified by terminology such as "intends", "to be", "expected, "anticipates" and similar expressions. Accordingly, readers are cautioned that events and circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Parex does not undertake any obligation to publically update or revise any forward-looking statements or information contained herein, except as required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Parex Resources Inc.
    Michael Kruchten
    Manager, Investor Relations
    (403) 517-1733
    (403) 265-8216 (FAX)

    Parex Resources Inc.
    Kenneth G. Pinsky
    Vice President, Finance and Chief Financial Officer
    (403) 517-1729
    (403) 265-8216 (FAX)