CanArgo Energy Corporation: Update on Georgian Activities.

Business WireMarch 21, 2005

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CanArgo Energy Corporation: Update on Georgian Activities.

TBILISI, Georgia -- CanArgo Energy Corporation ("CanArgo") (OSE:CNR) (AMEX:CNR) today announced that it had reached agreement with the Georgian government on issues relating to the purchase of gas. CanArgo also announced interim test results from its recently drilled N22H horizontal well.

Following a meeting between the Prime Minister of Georgia, Zurab Nogaideli and CanArgo's Chief Executive Officer...

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