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Announces Insider Share Purchases
Apr 03, 2009 02:23AM
April 3, 2009
Canadian Spirit Resources Inc. Announces Insider Share Purchases
CALGARY, ALBERTA--(Marketwire - April 3, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI) (PINK SHEETS:CSPUF) is pleased to announce that during the three months ended March 31, 2009, directors and officers increased their ownership in the Company by 308,000 common shares. This brings their total ownership, including shares held by associates, to 1.5 million shares. The Company has share ownership guidelines for directors and officers and provides a period of time to achieve such guideline levels. Holdings and transactions by directors and officers of CSRI in the Company's securities may be reviewed at www.sedi.ca.
CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 trillion cubic feet of natural gas from unconventional resource plays in western Canada.
The Company is currently evaluating the productive capability of both its shallow Gething play and its deeper Montney play through joint ventures with two well-capitalized partners. Both of these plays are located on the Company's principal resource property at Farrell Creek, British Columbia. CSRI is well funded with C$11.1 million of working capital ($0.23 per share) and has minimal current capital requirements associated with the Farrell Creek property.