310316--3/15/2007--CANARGO_ENERGY

related topics

{gas, price, oil}

{operation, international, foreign}

{operation, natural, condition}

{stock, price, share}

{stock, price, operating}

{control, financial, internal}

{investment, property, distribution}

{cost, contract, operation}

{cost, regulation, environmental}

{property, intellectual, protect}

{debt, indebtedness, cash}

{condition, economic, financial}

RISKS ASSOCIATED WITH OUR BUSINESS AND BUSINESS OPERATIONS. We Have Experienced Recurring Losses. Our Ability To Pursue Our Activities Is Dependent On Our Ability To Generate Cash Flows. Our Current Operations Are Dependent On the Success of Our Georgian Exploration Activities and Our Activities on the Ninotsminda Field. Our Operation Of The Ninotsminda Field Is Governed By a Production Sharing Contract Which May Be Subject To Certain Legal Uncertainties. We May Encounter Difficulties In Enforcing Our Title To Our Properties. We Will Require Additional Funds To Implement Our Long-Term Oil And Gas Development Plans. We May Be Unable To Finance Our Oil And Gas Projects. Our Operations May Be Subject To The Risk Of Political Instability, Civil Disturbance And Terrorism. We Face The Risk Of Social, Economic And Legal Instability In The Countries In Which We Operate. We Face An Inadequate Or Deteriorating Infrastructure In The Countries In Which We Operate. We May Encounter Currency Risks In The Countries In Which We Operate. We May Encounter Tax Risks In The Countries In Which We Operate. We have identified material weaknesses in our internal controls over financial reporting which, if not remediated, may adversely affect our ability to timely and accurately meet our financial reporting responsibilities. Risks Associated with our Industry. We May Be Required To Write-Off Unsuccessful Properties And Projects. Our Oil And Gas Activities Involve Risks, Many Of Which Are Beyond Our Control. We May Have Conflicting Interests With Our Partners. Our Operating Direct And Indirect Subsidiaries And Joint Ventures Require Governmental Registration. We Are Affected By Changes In The Market Price Of Oil And Gas. Our Actual Oil And Gas Production Could Vary Significantly From Reserve Estimates. Our Oil And Gas Operations Are Subject To Extensive Governmental Regulation. Our Profitability May Be Subject To Changes In Interest Rates. Risks Associated with our Stock. Limited Trading Volume In Our Common Stock May Contribute To Price Volatility. The Price Of Our Common Stock May Be Subject To Wide Fluctuations. We Do Not Anticipate Paying Cash Dividends In The Foreseeable Future. We Have A Significant Number Of Shares Eligible For Future Sale.

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310316--3/15/2007--CANARGO_ENERGY_CORP