Press Release Navigation

<<< Previous

Headlines

Next >>>


NEWS RELEASE TRANSMITTED BY Marketwire

FOR: PAN ORIENT ENERGY CORP.

TSX VENTURE SYMBOL: POE - | View Quote |  View Chart |  View Financials | 

Pan Orient Energy Corp. Announces Extension of Previously Announced Offer to Acquire Tiger Petroleum Inc.

Sep 20, 2005 - 18:03 ET

CALGARY, ALBERTA--(CCNMatthews - Sept. 20, 2005) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Pan Orient Energy Corp. ("Pan Orient") (formerly Welwyn Resources Ltd.) (Listed on the TSX Venture Exchange - Symbol "POE" - 23,548,787 common shares issued) is pleased to announce that the previously announced cease trade orders (collectively, the "Cease Trade Orders") issued against Tiger Petroleum Inc. by the Autorite des marches financiers and British Columbia Securities Commission have been revoked and accordingly holders of Tiger common shares and convertible debentures may now deposit such securities under Pan Orient's previously announced Offer to Purchase (the "Offer") all of the outstanding common shares and convertible debentures of Tiger.

In order to provide Tiger security holders with additional time in which to deposit their securities under the Offer following the revocation of the Cease Trade Orders, Pan Orient has filed a notice of extension (the "Notice of Extension") amending its original Offer by extending the time during which the Offer is open for acceptance from 5:00 p.m. (Calgary time) on September 30, 2005 to 5:00 p.m. (Calgary time) on October 20, 2005. The Notice of Extension may be viewed on SEDAR and will be mailed to Tiger security holders.

Pan Orient has been advised that Tiger filed its Director's Circular in response to the Offer on September 12, 2005 and that such Director's Circular contains a recommendation that Tiger security holders accept the Offer.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. This news release may contain forward-looking information. Actual future results may differ materially from those contemplated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pan Orient Energy Corp.
Jason Bednar
Vice President Finance and CFO
(403) 294-1770