ROAD TOWN, TORTOLA, British Virgin Islands, Feb. 28 /CNW/ - CIC Energy
Corp. ("CIC Energy" or the "Company") (TSX: ELC, BSE: CIC Energy) reported a
loss for the year ended November 30, 2007 of $12,485,479 or $0.26 per share
(basic and diluted), as compared to a loss of $2,197,288 or $0.06 per share
(basic and diluted), for the period ended November 30, 2006.
The loss for the year is attributable to the fact that in the Company
remains a development stage enterprise that has not yet commenced operations.
Capitalized exploration costs amount to $91,417,143 with exploration
costs for the year ended November 30, 2007 totaling $40,181,905.
Consolidated Audited Financial Statements for the year ended November 30,
2007 together with Management's Discussion and Analysis and the 2007 Annual
Information Form, have been filed on SEDAR and are available at www.sedar.com.
About CIC Energy Corp.
CIC Energy is a TSX/BSE-listed company engaged in the advancement of the
Mmamabula Energy Complex in Botswana, Africa. This Complex consists of the
Mmamabula Energy Project, a Coal-to-Hydrocarbons Project and export coal
For further information:
For further information: For additional information on CIC Energy and
its Mmamabula Energy Complex, please visit the Company's website at
www.cicenergy.com or contact: Erica Belling, CFA, P.Eng., VP Investor
Relations, Tau Capital Corp., Tel: (416) 361-9636 x 243, Email: