Capital Reserve Canada’s Subsidiary Acquires Approximately 2500 Acres of Mineral Rights
Capital Reserve Canada and It’s Chairman, Mr. Donald Getty, are pleased to announce that further to the Press Release of September 20th, 2006, its wholly-owned subsidiary, Two Hills Environmental Inc., has closed the transfer of Mineral Rights to approximately 2500 acres of land adjacent to its property near Two Hills, Alberta for one million restricted shares of CRC. This strategic acquisition provides for additional capacity to serve the oil and gas industry by the creation of disposal wells or salt caverns for underground storage.
Profile
CRC is an oil and gas services company based in Edmonton, Alberta. Through its wholly owned subsidiary, KCP Innovative Services, Inc., CRC offers technologically advanced tools for use in four areas of the industry. The first aids in testing and development of newly found resources; another measure existing wells’ productivity; and the third hastens well abandonment, ensuring compliance with regulatory emission guidelines. The fourth, through its proprietary hardware and software technologies, is used to determine the profitability of coal bed methane deposits, which may be developed and sold as natural gas. CRC has a second wholly owned subsidiary, Two Hills Environmental, to assist with problem waste from oil & gas companies, and provide underground storage.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding CRC’s business that are not historical facts are “forward looking statements” that involve risks and uncertainties. CRC wishes to caution readers not to place undue reliance on such forward looking statements and therefore speak only as of the date made. Investors are cautioned that all forward looking statements involve risks and uncertainties, including, but not limited to, those discussed in CRC’s Annual Report on Form 20-F for the period ended December 31st, 2005.
Contact:
Capital Reserve Canada, Ltd. Investor Relations Lisa Jacobson, 780-428-6026 crsvf@telus.net
http://www.capitalreservecanada.com
Source: Capital Reserve Canada, Ltd.
