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CALGARY, Sept. 18 /CNW/ - Western Oil Sands Inc. (TSX: WTO) ("Western")
today announced that it has filed an information circular in connection with
the previously announced Plan of Arrangement ("the Plan") between Marathon Oil
Corporation ("Marathon") and Western to Western shareholders. The special
meeting of shareholders will be held on Tuesday, October 16, 2007 at 10 am
Mountain Time in the Macleod Hall B at the Telus Convention Centre.
A copy of the information circular has been filed on SEDAR and can be
viewed and downloaded at www.sedar.com. The information circular includes a
technical review and assessment of undiscovered resources prepared in
accordance with the definitions, standards and procedures as contained in the
Canadian Oil and Gas Evaluation Handbook ("COGEH"). As such, Western has
updated its investor presentation and it is available on Western's web site at
This news release may contain forward-looking information based on
assumptions that are subject to a wide range of business risks, including
consummation of the Plan of Arrangement and listing of WesternZagros being
dependent on the satisfaction of customary closing conditions, the approval of
Western's shareholders and the approval of governmental authorities.
WesternZagros' operations are subject to all risks normally incident to oil
and gas exploration and production activities. All of WesternZagros' assets
are located in Kurdistan. As such, WesternZagros is subject to political,
economic, and other uncertainties of that region as well as risks of loss due
to civil strife, acts of war, guerrilla activities and insurrections.
WesternZagros' operations may be adversely affected by changes in government
policies and legislation or social instability and other factors which are not
within its control. Risks also include the uncertainty involved in the
estimation of resources.
Forward-looking information typically contains statements with words such
as "anticipate", "estimate", "expect", "potential", "could", or similar words
suggesting future outcomes. We caution readers and prospective investors of
the Company's securities not to place undue reliance on forward-looking
information as by its nature, it is based on current expectations regarding
future events that involve a number of assumptions, inherent risks and
uncertainties, which could cause actual results to differ materially from
those anticipated by Western.
For further information:
For further information: David Dyck, Senior Vice President and Chief
Financial Officer, (403) 233-1700; Dorreen Miller, Manager, Investor Relations
and Communications, (403) 233-1757