Capital Reserve Canada Ltd. (OTCBB: CRSVF) (“CRC”) and its Chairman, Mr. Donald R. Getty, are pleased to announce that CRC’s wholly owned subsidiary, KCP Innovative Services Inc. (KCP), expects to report an increase in sales in the fiscal year ended December 31, 2006 to $1,666,536 (CAD) from $1,038,741 (CAD) during the prior fiscal year, an increase of 60%. CRC expects to file its audited annual financial statements in the next several weeks, which will include such amounts.
Also, CRC is pleased to announce that Mr. Rocky Rombs has entered into an agreement with CRC to provide management services and assist with financing for the initial stages of CRC’s Two Hills Project. Mr. Rombs has over 30 years experience with developing properties relating to the oil and gas business. Mr. Rombs also has extensive experience in drilling. His agreement is subject to due diligence and finalization by both parties.
Profile
CRC is an oil and gas services company based in Edmonton, Alberta. Through their wholly owned subsidiary, KCP Innovative Services, Inc., the Company offers technologically advanced tools for use in four areas of the industry. The first aids in testing and development of newly found resources; another measures existing wells’ productivity and the third hastens well abandonment, ensuring compliance with regulatory emission guidelines. The fourth, through its proprietary hardware and software technologies, is used to determine the profitability of coal bed methane deposits, which may be developed and sold as natural gas. The Company has a second wholly owned subsidiary, Two Hills Environmental, to assist with problem waste from oil & gas companies, and provide underground storage.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding the company’s business that are not historical facts are “forward looking statements” that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the Company’s latest 20-F dated July 17th, 2006.
