UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) June 1, 2004
CANARGO ENERGY CORPORATION
| Delaware | 001-32145 | 91-0881481 | ||
| (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer | ||
| of incorporation) | Identification No.) | |||
| CanArgo Energy Corporation | ||
| P.O. Box 291, St. Peter Port | ||
| Guernsey, British Isles | GY1 3RR | |
| (Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code (44) 1481 729 980
The matters discussed in this Current Report on Form 8-K include forward looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company’s Reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company’s business prospects and should be considered together with all information available. They are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company cannot give assurance that the results will be attained.
Item 5. Other Events
On June 2, 2004, CanArgo Energy Corporation (“CanArgo”) issued a Press Release announcing that it had signed a contract with WEUS Holding Inc., a subsidiary of Weatherford International, Ltd., for Weatherford to supply Under Balanced Coiled Tubing Drilling (“UBCTD”) services to CanArgo’s projects in the Republic of Georgia (“WEUS Contract”).
Under the terms of the contract Weatherford will supply and operate a UBCTD unit to be used on a program of up to 14 horizontal wellbores on CanArgo’s Ninotsminda and Samgori Fields in Georgia. In addition the unit will be used to deepen and test CanArgo’s recent Manavi M11 Cretaceous oil discovery.
A copy of the Press Release is attached hereto as Exhibit 99.1 and a copy of the WEUS Contract is attached as Exhibit 10.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
| (a) Not Applicable |
| (b) Not Applicable |
| (c) Exhibits |
| 10.1 | Master Service Contract, dated June 1, 2004, between CanArgo Energy Corporation and WEUS Holding Inc. | |
| 99.1 | Press release, dated June 2, 2004, issued by CanArgo Energy Corporation |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CANARGO ENERGY CORPORATION | ||||||
Date:
June 15, 2004
|
By: | /s/Liz Landles | ||||
| Liz Landles, Corporate Secretary | ||||||