MOAT .05.News out.(COMTEX)B: Castleguard Completes the Sale of Its Mings Chapel Properties
B: Castleguard Completes the Sale of Its Mings Chapel Properties
DALLAS, Apr 11, 2003 (BUSINESS WIRE) -- Dallas-based Castleguard Energy
(OTCBB:MOAT) reports that is has completed the sale of its interests in two oil
& gas properties in the Mings Chapel field, Uphsur County, Texas, to
Denver-based Medicine Bow Energy.
Proceeds of the sale will be used to pay down debt and to fund additional
exploration and development in other areas.
Castleguard Energy holds working interests in properties located in Texas,
Louisiana and Alabama. Castleguard focuses on development projects, joint
working relationships and non-operated properties.
This report includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Although Castleguard believes that its expectations are based on
reasonable assumptions, it can give no assurance that its goals will be
achieved. Important factors that could cause actual results to differ materially
from those in the forward-looking statements include political developments in
foreign countries, federal and state regulatory developments, the timing and
extent of changes in commodity prices, the timing and extent of success in
drilling, discovering, developing and producing or acquiring oil and gas
reserves, and conditions of the capital and equity markets during the periods
covered by the forward-looking statements. Castleguard's periodic reports filed
with the Securities and Exchange Commission include a discussion of important
factors that could cause actual results to differ materially from those
indicated in forward-looking statements.
CONTACT: Castleguard Energy, Dallas
Bob Honea, 214/361-1755
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KEYWORD: TEXAS LOUISIANA COLORADO ALABAMA
INDUSTRY KEYWORD: ENERGY
OIL/GAS
SOURCE:
Castleguard
Energy
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