Qeva Group Inc.

Qeva Group Inc.

June 12, 2006 12:12 ET

Qeva Enters JV with U.K. Oil and Gas Company

CALGARY, ALBERTA--(CCNMatthews - June 12, 2006) - Qeva Group Inc. (CNQ:QEVA) is pleased to announce that it has signed a joint venture agreement with a U.K. oil and gas company with respect to Qeva and the U.K. company jointly bidding in the upcoming 24th UKCS licensing round to be held in June 2006.

The two companies will be bidding on a total of 4 blocks.

All 4 blocks are geologically and geophysically defined prospects with hydrocarbon shows.

Under the joint agreement and upon a successful bid round, Qeva will retain an 85% interest and shall become the operator of all the blocks subject to this agreement (subject to DTI approval).

Qeva is pleased to be working with a successful exploration company that has achieved a high success rate at previous UKCS bid rounds.

Further information will be released as it becomes due.

Contact Information

  • Qeva Group Inc.
    Art Bray
    Chief Financial Officer
    (403) 233-8787 ext. 115
    Email: artbray@qevagroup.com
    Qeva Group Inc.
    #420, 703 6th Ave SW
    Calgary, Alberta, Canada T2P 0T9