Road Town, Tortola, British Virgin Islands (April 7, 2008) – CIC Energy Corp. (“CIC Energy” or the “Company”)(TSX:ELC, BSE: CIC Energy) reported a loss for the three month period ended February 29, 2008 of $1,479,000 or $0.03 per share (basic and diluted), compared to a loss of $1,024,000 or $0.02 per share (basic and diluted) for the same period last year.
The reported loss for the first quarter of 2008 is primarily attributable to non-capitalized exploration expenditures, administration and personnel costs.
Capitalized exploration costs amount to $94.0 million, with exploration costs for the three month period totaling $7.7 million.
Consolidated Interim Financial Statements for the three months ending February 29, 2008, along with Management’s Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
For additional information on CIC Energy and its projects 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
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