CanArgo Energy Corporation: Georgian Operations Continue Unaffected

CanArgo Energy Corporation issued a statement that operations in Georgia are continuing unaffected by the ongoing hostilities between Georgia and Russia over control of the separatist region of South Ossetia in the central Caucasus. Oil production operations, at the present time, continue as normal at the Company’s Ninotsminda Field which is located 35 kilometres to the east of the capital city Tbilisi and over 100 kilometres from South Ossetia. As a precautionary measure, the Company has increased security and the number of personnel on duty at its production sites. The Company is closely monitoring the situation and the efforts of the United States, Nato, the United Nations and the European Union to bring an end to hostilities.

CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.