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West Hawk, Petrobras Update Jul 29, 2008 3:15:00 AM
DENVER, COLORADO--(Marketwire - July 29, 2008) -
During the months of June and July several technical and commercial meetings between West Hawk and Petrobras have taken place, in both Denver and in Brazil. At this time Petrobras is going through their Due Diligence process. The terms and conditions of the possible transaction have already been discussed by Petrobras and West Hawk. "It has been a pleasure to work through the Due Diligence process with Petrobras. The relationship between the two companies has been extremely positive," said Gonzalo Torres Macchiavello, President and CEO of the Americas, On behalf of the Board of Directors, Wm. Mark Hart, President and Chief Executive Officer About the Company: Cautionary Note: This news release contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Groundhog coal property in British Columbia, the Tulita coal property in the Northwest Territories, and the Nunavut coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration and development activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
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