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07.12.2009
ERA Completes Third Sale of 100,000 tonnes of Voluntary Emission Reductions to an Integrated Oil and Gas Company
ERA Completes Third Sale of 100,000 tonnes of Voluntary Emission Reductions to an Integrated Oil and Gas Company
ERA Carbon Offsets Ltd., (TSX-V: ESR) through its wholly owned subsidiary ERA Ecosystem Restoration Associates Inc. (“ERA”) is pleased to announce they have completed their third sale to an Integrated Oil and Gas Company (the “Company”) for 100,000 tonnes of Verified Emission Reductions (VERs).
Under the multiyear “Verified Carbon Rights Purchase and Sales Agreement” (VCRPSA) signed on July 20, 2007, the Company has agreed to purchase a minimum of 100,000 tonnes of VERs per year that have been validated and verified to the ISO 14064-2 standard. ISO 14064-2 is the proposed requirement for verification under the Canadian Federal Offset System for Greenhouse Gases (as published June 10, 2009). The VCRPSA also allows for additional VERs to be purchased as required over the contract period. The Company will use the VERs towards achieving their voluntary goals for offsetting emissions arising from their operations in Northern Alberta.
The VERs sold to the Company are generated through ERA's Community Ecosystem Restoration Program (CERP) which has been operational in the Lower Fraser Valley of British Columbia since September 2005. CERP is a large scale urban forest restoration program that began in the District of Maple Ridge in 2005 which now includes projects in the District of Mission, the City and Township of Langley, and Metro Vancouver. The CERP program is supported by the sale of VERs generated through ERA's ecosystem restoration and reforestation work in these degraded riparian areas. VERs are utilized by ethical organizations looking to reduce their carbon footprint by increasing their sustainability endeavors.
About ERA Carbon Offsets Ltd.
ERA is a Canadian based pioneer in forest-based carbon offset programs and project development. Through its subsidiary, ERA Ecosystem Restoration Associates Inc., ERA produces significant, measurable carbon sequestration benefits that are validated and verified to international standards and sold to purchasers interested in offsetting their greenhouse gas footprints as a means of mitigating the effects of climate change. ERA is producing offsets from the company's "Community Ecosystem Restoration Program" (CERP) in the Lower Fraser Valley, near Vancouver, British Columbia. ERA is also developing projects in Africa, South America and the United States. ERA has generated ISO-validated and verified Voluntary Emission Reductions (VERs) from the CERP project; to supply clients and offset users that include: HSE-Entega, Rolling Stone Magazine, Shell Canada Ltd., Air Canada, the Motion Pictures Producers Industry Association, and the Globe Foundation.
Additional information on ERA can be found on the corporate website www.eracarbonoffsets.com or by contacting investor@eraecosystems.com
On behalf of the Board of Directors of
ERA CARBON OFFSETS LTD.
"Robert Falls"
Chief Executive Officer
For further information, please contact:
Investor Relations:
Stevenson & Associates Investor Relations Ltd.
Kyle Stevenson, President
Telephone: (604) 687 1779
Email: kyle@stevensonir.com
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company’s general business development, research development and the company’s development of forest-based carbon offsets. When used in this document, the words “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although ERA Carbon Offsets Ltd. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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ERA Carbon Offsets Ltd., (TSX-V: ESR) through its wholly owned subsidiary ERA Ecosystem Restoration Associates Inc. (“ERA”) is pleased to announce they have completed their third sale to an Integrated Oil and Gas Company (the “Company”) for 100,000 tonnes of Verified Emission Reductions (VERs).
Under the multiyear “Verified Carbon Rights Purchase and Sales Agreement” (VCRPSA) signed on July 20, 2007, the Company has agreed to purchase a minimum of 100,000 tonnes of VERs per year that have been validated and verified to the ISO 14064-2 standard. ISO 14064-2 is the proposed requirement for verification under the Canadian Federal Offset System for Greenhouse Gases (as published June 10, 2009). The VCRPSA also allows for additional VERs to be purchased as required over the contract period. The Company will use the VERs towards achieving their voluntary goals for offsetting emissions arising from their operations in Northern Alberta.
The VERs sold to the Company are generated through ERA's Community Ecosystem Restoration Program (CERP) which has been operational in the Lower Fraser Valley of British Columbia since September 2005. CERP is a large scale urban forest restoration program that began in the District of Maple Ridge in 2005 which now includes projects in the District of Mission, the City and Township of Langley, and Metro Vancouver. The CERP program is supported by the sale of VERs generated through ERA's ecosystem restoration and reforestation work in these degraded riparian areas. VERs are utilized by ethical organizations looking to reduce their carbon footprint by increasing their sustainability endeavors.
About ERA Carbon Offsets Ltd.
ERA is a Canadian based pioneer in forest-based carbon offset programs and project development. Through its subsidiary, ERA Ecosystem Restoration Associates Inc., ERA produces significant, measurable carbon sequestration benefits that are validated and verified to international standards and sold to purchasers interested in offsetting their greenhouse gas footprints as a means of mitigating the effects of climate change. ERA is producing offsets from the company's "Community Ecosystem Restoration Program" (CERP) in the Lower Fraser Valley, near Vancouver, British Columbia. ERA is also developing projects in Africa, South America and the United States. ERA has generated ISO-validated and verified Voluntary Emission Reductions (VERs) from the CERP project; to supply clients and offset users that include: HSE-Entega, Rolling Stone Magazine, Shell Canada Ltd., Air Canada, the Motion Pictures Producers Industry Association, and the Globe Foundation.
Additional information on ERA can be found on the corporate website www.eracarbonoffsets.com or by contacting investor@eraecosystems.com
On behalf of the Board of Directors of
ERA CARBON OFFSETS LTD.
"Robert Falls"
Chief Executive Officer
For further information, please contact:
Investor Relations:
Stevenson & Associates Investor Relations Ltd.
Kyle Stevenson, President
Telephone: (604) 687 1779
Email: kyle@stevensonir.com
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company’s general business development, research development and the company’s development of forest-based carbon offsets. When used in this document, the words “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although ERA Carbon Offsets Ltd. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA26883Q1090">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA26883Q1090</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.