Amg Bioenergy Resources Holdings Ltd V.ABG.H

Shareholders vote

[jcjohn36]

Shareholders vote on Arawak's proposed business acquisitions set for January 5th, 2005 Tuesday December 14, 9:57 am ET TSX VENTURE EXCHANGE TRADING SYMBOL: ABG ANGUILLA, British West Indies, Dec. 14 /CNW/ - Arawak Energy Corporation ("Arawak" or the "Company") announces that it mailed to its shareholders the information circular (the "Circular") and related documentation in connection with the special meeting of shareholders of the Company scheduled to be held on January 5th, 2005 in Vancouver, Canada for the purpose of considering and if appropriate approving the purchase by Arawak of 50% of PechoraNefteGas ("PNG"), a company with oil production in the Komi Republic in Russia and the purchase by Arawak of all of the outstanding shares of Altius Energy Corporation ("Altius"), a company with oil production in Kazakhstan. Details of both the PNG and Altius transactions, as well as the operations of PNG and Altius, are included in the Circular currently available on the Company's web-site at www.arawakenergy.com. In addition, a copy of the Circular and related documents have been filed on the web-site for the System for Electronic Document Analysis and Retrieval ("SEDAR") and will be available on SEDAR's website at www.sedar.com on December 15th, 2004. Arawak is also pleased to announce that it has mailed the offer to purchase and related documents to the shareholders of Altius with respect to the proposed purchase of all of the outstanding shares of Altius on the basis of 1.75 common shares of Arawak for each Altius share. Subject to the satisfaction of all conditions precedent, closing of both transactions is expected in early January 2005.