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Latest Canoel International News

• Cost of the first drilling phase is expected to be approximately US$1.8 million and will be funded by existing corporate funds, completion of sale of assets and planned new financings.

• The main problem of emulsion fuel has been the stability of the emulsion resulting from the initial chemical process while being stocked and/or being transported before being burned.

• Canoel International Energy signs MoU for the proposed acquisition of a private corporation which indirectly holds a 55% interest in certain Argentinean oil producing properties
• The agreement is signed for a cash consideration of USD$1,456,000.00 and warrants entitling the holders to acquire up to 750,000 shares of the Company at an exercise price of $0.15 per share
• The entering into of any transaction is subject to certain conditions, including due diligence by Canoel, the negotiation and entry into definitive agreements, regulatory approvals, including the approval of the TSX Venture Exchange

• Canoel International's application for two natural gas properties receives go ahead from Italian "Ministero per lo Sviluppo Economico"
• The two natural gas properties are in proximity to each other and are located in southern Italy, an area which is currently producing most of Italian hydrocarbons
• "Torrente Vulgano" is located in the Puglia Region, while the second one, named "Canaldente", is located in the Basilicata Region

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