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Gold/Mining/Energy : Cordex Petro-CZX.A -- Ignore unavailable to you. Want to Upgrade?

To: rick f who wrote (66)	5/19/1999 2:14:00 AM
From: Arden	Read Replies (1) \| Respond to of 89

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