TORONTO, March 14 /CNW/ - Teton Energy Corporation (AMEX: TEC) today
announced that it has received an exemption from the requirements of
securities legislation in British Columbia, Alberta and Ontario, Canada to
file a Statement of Reserves Data and Other Oil Gas Information and related
Canadian disclosure documents.
The exemption means that Teton will no longer be required to comply with
the requirements of National Instrument 51-101 - Standards of Disclosure for
Oil and Gas Activities and will no longer be required to file Form 51-101F1 -
Statement of Reserves Data and Other Oil Gas Information, Form 51-101F2 -
Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor
and Form 51-101F3 - Report of Management and Directors on Oil and Gas
Disclosure. In lieu of such filings, Teton will, pursuant to the decision of
the Canadian regulators, continue to provide disclosure about its oil and gas
activities prepared in accordance with the requirements of the U.S. Securities
and Exchange Commission and the American Stock Exchange. Such disclosure can
be accessed electronically on the SEDAR website at www.sedar.com. The
exemption will be available to Teton for so long as fewer than 10% of Teton's
shareholders are resident in Canada and such residents hold less than 10% of
Teton's outstanding shares of common stock.
About Teton Energy Corporation
Denver-based Teton Energy Corporation is an independent oil and gas
exploration and production company with operations in the Rocky Mountain
region of the U.S. The Company's common stock trades as TEC on the American
Stock Exchange. More information about the Company is available on the
company's website, www.teton-energy.com.
This news release may contain certain forward-looking statements,
including declarations regarding Teton and its subsidiary's expectations,
intentions, strategies and beliefs regarding the future within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements contained herein are based upon
information available to Teton's management as at the date hereof and actual
results may vary based upon future events, both within and without the control
of the Teton's management, including risks and uncertainties that could cause
actual results to differ materially including, among other things, the impact
that additional acquisitions may have on the company and its capital
structure, exploration results, market conditions, oil and gas price
volatility, uncertainties inherent in oil and gas production operations and
estimating reserves, unexpected future capital expenditures, competition,
governmental regulations and other factors discussed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2005 filed with the
Securities and Exchange Commission. More information about potential factors
that could affect the Company's operating and financial results is included in
Teton's annual report on Form 10-K for the year ended December 31, 2005.
Teton's disclosure reports are on file at the Securities and Exchange
Commission and can be viewed on Teton's website at www.teton-energy.com.
Copies are available without charge, upon request from the Company.
For further information:
For further information: Andrea Brown, (303) 565-4600 ext. 101,