Road Town, Tortola, British Virgin Islands (February 28, 2007) – CIC Energy Corp. (“CIC Energy” or the “Company”) (TSX: ELC, BSE: CIC Energy) reported a loss for the year ended November 30, 2007 of $12,485,479 or $0.26 per share (basic and diluted), as compared to a loss of $2,197,288 or $0.06 per share (basic and diluted), for the period ended November 30, 2006.
The loss for the year is attributable to the fact that in the Company remains a development stage enterprise that has not yet commenced operations.
Capitalized exploration costs amount to $91,417,143 with exploration costs for the year ended November 30, 2007 totaling $40,181,905
Consolidated Audited Financial Statements for the year ended November 30, 2007 together with Management’s Discussion and Analysis and the 2007 Annual Information Form, have been filed on SEDAR and are available at www.sedar.com.
About CIC Energy Corp. CIC Energy is a TSX/BSE-listed company engaged in the advancement of the Mmamabula Energy Complex in Botswana, Africa. This Complex consists of the Mmamabula Energy Project, a Coal-to-Hydrocarbons Project and export coal opportunities.
For additional information on CIC Energy and its Mmamabula Energy Complex, please visit the Company’s website at www.cicenergy.com or contact:
Erica Belling, CFA, P.Eng.
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Email: ebelling@taucapital.com
