Celsius Resources Limited Regulatory News (CLA)

21 Jun 2006 12:14

Cordillera Resources PLC21 June 2006 21 June, 2006 CORDILLERA RESOURCES PLC ("Cordillera" or the "Company") Update re. Acquisition of Continental Petroleum Limited Cordillera Resources Plc (the AIM listed company (Ticker:CLA)) entered into aShare Purchase Agreement on 20 December 2005, to acquire Continental PetroleumLimited (Agreement). The Acquisition was subject to various conditions,including satisfactory due diligence on Continental Petroleum Limited. The Company has been advised by its lawyers that procedural and other delays inRussia have been such that it has not been possible to complete the acquisitionin time to satisfy the conditions of the Agreement. As such, the parties to theAgreement have now entered into a Deed of Termination. As a result of the Deed of Termination, AIM has agreed to extend the final date,by which the Company must complete a reverse transaction, to 2 October 2006,beyond which the Company's shares would be delisted from trading. The Companyhas now commenced reviewing other projects and the Directors are confident thatthey will be able to identify other opportunities suitable for investment. Contact Details Mr Colin Orr Ewing Mr Hugh Oram Cordillera Resources Plc Nabarro Wells & Co Chairman Nominated Advisor +44 (0) 207 352 4117 +44 (0) 207 710 7400 This information is provided by RNS The company news service from the London Stock Exchange