|By PR Newswire||
|August 29, 2013 02:01 AM EDT||
CALGARY, Alberta, August 29, 2013 /PRNewswire/ --
Caracal Energy Inc. ("Caracal Energy" or the "Company") is pleased to announce that the Company has been officially listed as a Supporting Company of the Extractive Industries Transparency Initiative (EITI) with immediate effect.
Gary Guidry, President & CEO of Caracal Energy, said, "We are proud as a Company to be part of the EITI. The objectives of EITI align well with our business ethos of ensuring our conduct and practices benefits all constituents in the countries and regions in which we operate."
The EITI is a global standard that promotes revenue transparency. It provides a robust methodology for monitoring and reconciling company payments and government revenues at the country level. Each implementing country creates its own EITI process, which is overseen by participants from the government, companies and national civil society. The international EITI Board and the International Secretariat are the guardians of the EITI methodology internationally. More information can be found on the website: http://eiti.org.
About Caracal Energy Inc.
Based in Canada, Caracal Energy Inc. is an international exploration and development company focused on oil and gas exploration, development and production activities in the Republic of Chad, Africa. In 2011, the Company acquired three production sharing contracts ("PSCs") from the government of the Republic of Chad. These PSCs provide exclusive rights to explore and develop reserves and resources over a combined area of 26,103 km2 in southern Chad. The PSCs cover two world-class oil basins with development opportunity, oil discoveries, and numerous exploration prospects.
For further information:
Caracal Energy Inc.
Gary Guidry, President and Chief Executive Officer
Trevor Peters, Chief Financial Officer
Longview Communications - Canadian Media Enquiries
Alan Bayless +1-604-694-6035
Joel Shaffer +1-416-649-8006
FTI Consulting - UK Media Enquiries
Ben Brewerton / Ed Westropp