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Road Town, Tortola, British Virgin Islands (October 12, 2006) – CIC Energy Corp. (“CIC” or the “Company”)(TSX:ELC, BSE: CIC Energy) reported a loss for the three month period ended August 31, 2006 of $702,445 or $0.02 per share – basic and diluted, and a loss for the nine month period ended August 31, 2006 of $2,380,103 or $0.08 per share – basic and diluted.
The loss for the nine month period is attributable to non-capitalized exploration expenditures, administration costs and other extraordinary costs in connection with the consolidation of Coal Investment Corp. and Ophir Ventures Inc. in March 2006, as well as the subsequent listing of the common shares of CIC on the TSX.
Capitalized exploration costs amount to $41,942,771 with exploration costs for the nine month period totaling $38,206,662.
Consolidated Interim Financial Statements for the three and nine months ending August 31, 2006, along with Management’s Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
For additional information on CIC and its projects visit the Company’s website at www.cicenergycorp.com or contact:
Fiona Childe, Ph.D., P.Geo.
VP Corporate Communications
Tau Capital Corp.
Tel: (416) 361-9636 x 227
Email: fchilde@taucapital.com
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