is this stock really safe??....the phone is disconected...but the fax line is still picking up but i don't know if it's the same company??
does anyone know anything????
May 17, 1999
Delinquent Filer; Annual Financial Statements to Nov
CORDEX PETROLEUMS INC ("CZX.A-T;CXPTF-L")
- Delinquent Filer; Annual Financial Statements to Nov
BCSC Delinquent Filer Notice
for May 14, 1999
This issuer has not filed Annual Financial Statements to Nov in compliance with section 135, 136, 141 or 145 of the
Regulation. The Issuer may have a cease trade order issued against it without further notice.
The issuer has not paid the fees specified by the Regulation. Issuers in this category are considered in default and will not
receive other services provided by the Commission until the fees are paid.
Reporting issuers and exchange issuers (the "Issuers") are required to make periodic filings with the British Columbia Securities
Commission pursuant to Part 10 of the Securities Regulation, B.C. Reg. 270/86. Tel: (604) 899-6500 British Columbia
Securities Commission
____________________________________________________________
(c) Market News Publishing Inc. All rights reserved.
Tel:(604) 689-1101 Fax:(604) 689-1106
March 8, 1999
CALGARY, March 8 /CNW/ - Cordex Petroleums Inc. (TSE-CZX.A) has not been able to reach a mutually acceptable
arrangement with Bankers Trust of New York with regard to the disbursement of approximately US $13,600,000 in net
proceeds from the sale of the company's oil and gas assets in Chile and Argentina to Genera SA., which closed on December
7, 1998. An additional US $1,100,000 was withheld by the purchaser at the time of the closing. The company has requested a
written accounting from Bankers Trust of New York with regard to its claims which relate to various cash advances of
approximately US $11,000,000, not including interest, dividends, ''lump sum'' or profit claims. The claims of Bankers Trust of
New York include advances by a third party. In addition, Cordex Petroleums Inc. has identified approximately US $2,600,000
in claims by creditors. In the absence of an acceptable arrangement, Cordex Petroleums Inc. applied on March 05, 1999 for
court protection and related legal remedies under Part III of the Bankruptcy and Insolvency Act (Canada) and Chapter 11 of
the United States Bankruptcy Code to protect its creditors and preserve value for its shareholders. Cordex Petroleums Inc.
intends to continue negotiations to resolve all outstanding issues.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
For further information: Fred M. Strong, President, Cordex Petroleums Inc., (416) 544-8366
This Report Updated by Canstock at 15:49:48 Pacific Time
1900, 717 - 7th Avenue S. W. Calgary AB T2P 0Z3 Telephone (303) 297-2016 ext 131 Facsimile (303) 297-1432
Contact Ralph R. Wilkerson President
E-mail cordexrw@ix.netcom.com
issued 110,755,515
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