LGR shareholders approve acquisition of Stream Oil & Gas Ltd.

    L.G.R. Resources Ltd. (CNQ: MHPT)

    VANCOUVER, March 14 /CNW/ - L.G.R. Resources Ltd. (the "Company") is
pleased to announce that at its annual and special general meeting held on
March 11, 2008 (the "Meeting") the shareholders approved the Company's
acquisition, by way of share exchange (the "Acquisition"), of all of the
issued and outstanding shares of Stream Oil & Gas Ltd. ("Stream") as more
particularly described in the Company's news release of January 15, 2008. The
shareholders also approved a special resolution to consolidate the Company's
issued share capital on a four old shares for one new share basis in
conjunction with the Acquisition. Alan T. Charuk, Ian H. Mann, Lee W. Southern
and Daming Yang were elected as directors of the Company pending completion of
the Acquisition, at which time all of such directors, except Mr. Southern,
will resign and be replaced by nominees of Stream.
    Pending approval of the CNQ, closing of the Acquisition is scheduled to
occur on or before March 31, 2008 at which time the name of the Company will
be changed to "Stream Oil & Gas Ltd.".
    Stream is a private Cayman Islands company that has entered into
4 petroleum agreements with Albpetrol Sh.A, the state oil and gas company of
Albania, for the development and production of three producing oil fields,
being the Cakran-Mollaj, Ballsh-Hekal and Gorisht-Kocul fields, and one
producing gas field, being the Delvina field, in Albania. A detailed
discussion of Stream and its oil and gas properties is included in the
Company's information circular dated February 12, 2008 prepared in connection
with the Meeting, a copy of which is available for viewing at www.sedar.com.
    Alan T. Charuk, the President and Acting Chief Executive Officer of the
Company, is the person responsible for this news release and can be contacted
at the Company's head office, (778) 371 - 8184, for additional information.

    The Canadian Trading and Quotation System Inc. ("CNQ") has not reviewed
    and does not accept responsibility for the adequacy or accuracy of this

    This news release contains forward-looking statements, which relate to
future events or future performance and reflect management's current
expectations and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by and
information currently available to the Company. Investors are cautioned that
these forward looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to differ
materially from those expected. These forward-looking statements are made as
of the date hereof and the Company does not assume any obligation to update or
revise them to reflect new events or circumstances except as required under
applicable securities legislation.

For further information:

For further information: Alan T. Charuk, the President and Acting Chief
Executive Officer, (778) 371-8184

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890