Vision 2000 Exploration Ltd.

Vision 2000 Exploration Ltd.

November 20, 2007 11:56 ET

Vision 2000 Exploration Ltd.: Corporate Update

CALGARY, ALBERTA--(Marketwire - Nov. 20, 2007) - The board of directors (the "Board") of Vision 2000 Exploration Ltd. ("Vision" or "the Company") (TSX VENTURE:VNN) have decided to relaunch a process to identify and evaluate all potential opportunities that will maximize the value of Vision common shares. A special committee (the "Special Committee") of the Board consisting of Daryl Rudichuk, David Conklin and Geoffrey P. Smith has been established to review and make recommendations to the Board on strategic alternatives that may arise from this process. The Board has re-engaged Peters & Co. Limited ("Peters & Co.") as its exclusive financial advisor.

The Special Committee and Peters & Co. will conduct a process designed to solicit qualified interested parties for transaction proposals that may include the merger, sale, or recapitalization of the Company or a sale of certain or all of Vision's assets. Vision and Peters & Co. have prepared an Information Memorandum and data room containing confidential information, which are available for interested parties.

Vision is engaged in oil and natural gas exploration, primarily in the Kaybob and Knappen areas of Alberta. The Company has recently achieved record production levels at Kaybob as a result of exploration success. Vision has assembled a large undeveloped land base and a considerable prospect inventory in its core areas.

The Company's shares are listed for trading on the TSX Venture exchange under the symbol VNN. There are currently 9,461,021 shares issued and outstanding.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Vision 2000 Exploration Ltd.
    David G. Conklin
    President & CEO
    (403) 294-1177
    Vision 2000 Exploration Ltd.
    Suite 730, 138 - 4th Avenue S.E.
    Calgary, Alberta T2G 4Z6
    (403) 294-1177
    (403) 294-1274 (FAX)