Petromin Achieves Tier 1 Status on TSX Venture Exchange
Jan 26, 2007 08:00 ET
Friday, 26 January 2007
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 26, 2007) - Petromin Resources Ltd. (the "Company") (TSX VENTURE:PTR) is pleased to announce that it has achieved Tier 1 status on the TSX Venture Exchange. Tier 1 is the TSX Venture Exchange's premier tier and is reserved for the Exchange's most advanced issuers with the most significant financial resources. In order to meet the requirements of a Tier 1 issuer, the Company has met the Exchange's requirement that its properties have significant geological merit. This increased status should allow more flexability with respect to future financings. It should also ease Exchange procedures and facilitate transaction approvals and reporting requirements.
"This advancement of Tier 1 is another step in the maturation of the Company and in the overall growth strategy of Petromin," said Mr. Mike Suk, Vice President of Corporate Affairs of Petromin.
Petromin Resources Ltd. is a micro-cap Canadian energy company listed on the Toronto Venture Stock Exchange. The Company's focus is oil and gas production and enviro-energy project development. Core operations include five oil and gas properties in Alberta Canada along the Western Canada Sedimentary Basin. The Company is currently pursuing high impact CBM exploration and development opportunities in China. By applying the latest C02 Geological Sequestration Technology (Carbon Capture and Storage Technology), Petromin aims to implement projects that enhance oil recovery and extract coal bed methane while significantly lowering CO2 green house gas emissions around the world.
On Behalf of Petromin Resources Ltd.
Kenny W. Chan, Co-Chairman and Chief Executive Officer