PRESS RELEASE
Email: INFO@CONTINENTALENERGY.COM
Web: WWW.CONTINENTALENERGY.COM
Symbol: OTC-BB: CPPXF
SHARES ISSUED
Langley, BC, Canada: MARCH 28, 2003–CONTINENTAL ENERGY CORPORATION(“Continental”, OTC-BB:CPPXF) announced today that it plans to issue 900,000 common shares to several arms length individuals as compensation promised them for their instrumental role in introducing and assisting with negotiations with the Chinese consortium who recently concluded an agreement with the Company and farmed-in to a 40% stake in the Company’s Bengara-II production sharing contract. For details of the farm-out see the Company’s press release dated March 6, 2003. Valued at recent a recent market price of US$ 0.25 per share the total issue is equivalent to a finders fee of US$ 225,000. The shares so issued shall be restricted from trading until December 31, 2004.
Continental Energy is a small but aggressive oil and gas exploration company focusing its efforts on discovering major reserves in Indonesia. Continental owns interests in two high potential exploration properties under Production Sharing Contracts covering 3 million acres in Indonesia, the onshore Bengara-II Block in East Kalimantan and the offshore Irian Jaya Yapen Block. Continental also owns a stake in a Technical Assistance Contract for the development of the Bangkudulis Oil Field, East Kalimantan.
On behalf of the Board,
“Original Signed by Gary R. Schell”
___________________
Gary R. Schell, Director
No securities regulatory authority has either approved or disapproved the contents of this news release.
Certain matters discussed within this press release are forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Although Continental believes the expectations reflected in such forward-looking statements including reserves estimates, production forecasts, feasibility reports and economic evaluations are based on reasonable expectations and assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, regulatory changes, international terrorist acts, changes in local, regional or national economic or political conditions and other risks detailed from time to time in Continental's periodic filings with the US Securities Exchange Commission.
For more info please contact Craig Doctor, Investor Relations, 604-278-4656 or Advisors, Alex Tassos & Associates 760-737-7000
Or Gary Schell, Director, at the Company’s Headquarters, 21795 64th Avenue, Langley, BC, V2Y-2N, BC, 604-532-6066.
No securities regulatory authority has either approved or disapproved the contents of this news release.
Certain matters discussed within this press release are forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Although Continental believes the expectations reflected in such forward-looking statements including reserves estimates, production forecasts, feasibility reports and economic evaluations are based on reasonable expectations and assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in Continental's periodic filings with the US Se curities Exchange Commission.
For more info please contact Craig Doctor, Investor Relations, 604-278-4656 or Advisors, Alex Tassos & Associates 760-737-7000
Or Gary Schell, Director, at the Company’s Headquarters, 21795 64th Avenue, Langley, BC, V2Y-2N, BC, 604-532-6066.