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Update April 29, 2002-The Suspension on stock in Xogen has been lifted. The main issue appears to be over the phrase "Free Energy". The new term used by Tathacus is "renewable energy" and the Toronto Stock Exchange has now listed the company again. The generator is designed to function on tap water and promises to revolutionize the worlds energy needs. More updates soon.

Independent technical audit of Xogen Power's technology to proceed at request of CDNX

  CALGARY, July 31 /CNW/ - Tathacus Resources Ltd. announced today that it will proceed with a request by the Canadian Venture Exchange (CDNX) for a technical audit of Xogen Power's oxy-hydrogen generation technology. Tathacus Resources Ltd. is a minority shareholder (20 per cent) in Xogen Power Inc.,which is a privately held, Alberta-based alternative energy research and development company.

  The CDNX announced today in a bulletin on its website that it has retained Associated Mining Consultants Ltd. (AMCL) to conduct the audit.

  "Tathacus is very pleased that the review will now get underway. Notwithstanding certain reservations registered with the Exchange regarding the process, we will cooperate fully with the Exchange and the auditors to move the review forward as quickly as possible," said Barrie Shibley, President of Tathacus Resources.

  The CDNX suspended Tathacus Resources from trading on May 2, 2001 pending a technical audit of Xogen Power's technology. Tathacus had earlier commissioned independent testing of Xogen's technology by the Alberta Research Council, but the Exchange has requested an additional technical audit. "The best option for Tathacus and for our shareholders is to move forward with the audit as outlined by the CDNX," said Shibley. "Tathacus is a minority shareholder in Xogen and we are committed to meeting all of the Exchange's requirements, so long as we do not compromise the security of Xogen's proprietary technology." The Exchange and the Company expect the audit to begin shortly.

  Today's CDNX bulletin states in full: "Further to the CDNX bulletin dated May 2, 2001, the Exchange provides the following update on its ongoing review of Tathacus Resources Ltd. (the "Company"). As previously reported, the Exchange has asked for an independent technical audit of Xogen Power Inc.'s proprietary hydrogen generation technology and related public disclosure. This review is to be carried out, at the Company's expense, pursuant to the terms of the Company's Listing Agreement and in accordance with Exchange policies. The Exchange has been unable to reach an agreement with the Company on either the terms of reference for the review or the independent party to conduct this review. The Exchange has now determined that consensus on these issues is unlikely. As a result, the Exchange will be retaining Associated Mining Consultants Ltd. ("AMCL") to oversee, conduct and report on the findings of this audit. AMCL has previously conducted independent technical audits and other reviews for the Exchange. AMCL has or will be retaining outside technical specialists in appropriate fields to assist and advise them as required. Work is anticipated to commence as soon as final details and arrangements can be implemented. No time frame has been established for the completion of this review, however, AMCL will be instructed to proceed as quickly as possible. The Exchange expects full public disclosure of the findings and conclusions of this audit once it is completed. The Exchange anticipates that this audit will serve as a basis for the Exchange to move forward with its ongoing review of the Company's affairs. Trading in the shares of the Company will remain suspended pending the completion of this audit and resolution of outstanding issues."

  About Xogen Power Inc.

  Xogen Power Inc., a private Alberta company is developing an oxy-hydrogen generator that provides on demand production of oxy-hydrogen from ordinary tap water in sufficient quantities for adaptation to industrial and burner tip applications.

  About Tathacus Resources Ltd.

  Tathacus Resources Ltd. is an Alberta-based energy company that plays an active role in the natural gas industry while pursuing viable alternative energy sources. The company's wholly owned subsidiary, Crucero Resources Ltd., has 41 natural gas wells on production in the Altee-Buffalo area of southeastern Alberta. Tathacus Resources also owns 20 per cent of Xogen Power Inc., a private company that is developing an advanced energy technology that generates oxygen-hydrogen from tap water on demand.

  For further information: John Thibodeau/Tanis Robinson, IR Profile,

1-888-504-8464 or ir@tathacus.ca

 

Tathacus President's Note to Shareholders

  PRESIDENT'S NOTE TO SHAREHOLDERS

  I would like to advise shareholders that the CDNX has suspended trading in the Company's shares while it continues its review of the Alberta Research Council report.

 The following bulletin has been issued by the Exchange: TATHACUS RESOURCES LTD. ("TTC")

  BULLETIN TYPE: Suspend

  BULLETIN DATE: April 6, 2001

  Tier 2 Company The shares of the Company will be suspended at the close of trading April 6, 2001 pursuant to Rule C.1.07. The Exchange is reviewing the Alberta Research Council reports to determine if they provide adequate independent support and verification of the Xogen Power Inc. oxygen-hydrogen gas generation system and the disclosure in the Company's April 6, 2001 news release. Additional independent verification of this proprietary technology may be required in the future. The Exchange's review of the Company's affairs and disclosure is ongoing. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice. I want to assure our shareholders that the management of Tathacus is eager to answer any questions that the Exchange may have regarding the ARC report. In the meantime, Tathacus is continuing to work with Xogen on the commercialization of this technology through our existing joint venture. I expect that trading will be reinstated in a timely manner. The Management team and I would like to thank the shareholders for their continued support and patience. We look forward to delivering additional shareholder value as we continue to move forward. Barrie Shibley President and CEO

Tathacus releases results of ARC tests

  CALGARY, April 6 /CNW/ - Tathacus Resources Ltd. (CDNX: TTC) announces that it has received the independent test data from the Alberta Research Council (ARC) regarding Xogen Power Inc.'s ("Xogen") oxygen-hydrogen gas generation system. Tathacus owns 20 per cent of Xogen, a private Calgary-based technology and research company. Tathacus engaged ARC recently to conduct specific tests of Xogen's proprietary technology. more

 

February 8, 2001

Tathacus Resources Ltd. wishes to provide its shareholders with an update regarding the company. Work is continuing on the development of a prototype residential heating application of the technology. The company remains confident that the Tathacus - Xogen heating joint venture will represent a commercially viable application of the process for the production of oxy/hydrogen gas. Previously announced testing being conducted by the Alberta Research Council is ongoing and has not yet been completed.

Tathacus President's Note to Shareholders

June 21, 2001 -- As always, Tathacus would like to thank its shareholders for their patience through this challenging period. The management of Tathacus remains committed to resolving issues relating to the suspension of trading of our stock with the CDNX. While the scope of the technical review of Xogen Power's oxy-hydrogen generator requested by the CDNX and the final makeup of the independent third parties who will conduct the testing have not been finalized, discussions are ongoing and progress is being made. Tathacus expects the review to begin in the near future, and once the remaining details are finalized and testing begins, Tathacus will advise its shareholders on the anticipated timeline for the completion of the new studies.As discussed in our note of June 8, work on the burner apparatus for a prototype home heating furnace is nearing completion. Tathacus expects the joint venture to demonstrate the furnace burner in due course, though no
specific timeline has been established as of yet. In addition to our 20 per cent interest in Xogen, we remain active with our other energy investments. On June 1, Tathacus announced that its subsidiary, Crucero Resources, has acquired a 100 per cent working interest in 18 natural gas wells. Remedial work on the wells is underway and is expected to be finished in the near term. We will continue to provide updates on a regular basis. Once again, thank you for your patience and support. Yours truly, Barrie Shibley President & CEO

Tathacus President's Note to Shareholders

  CALGARY, June 8 /CNW/ - In recent weeks, a number of shareholders have asked questions about Xogen Power's ability to fund its research and development activities while shares in Tathacus Resources (TTC) are suspended from trading.

  First, let me reassure investors that Xogen's work continues apace while Tathacus endeavours to resolve issues relating to the trading suspension with the CDNX. The trading suspension does not affect the daily activities of Crucero, Tathacus, Xogen or the joint venture between the companies. Tathacus funded its purchase of 20 per cent of Xogen using funds raised by selling treasury shares to the public. Tathacus has no ongoing financial drain associated with the Xogen ownership. Xogen uses these funds and funds raised privately from its core shareholder group to fund its research and development program. Xogen continues to refine its oxy-hydrogen generation system. At the same time, the joint venture between Tathacus and Xogen, which is developing a prototype burner for a home heating furnace, is moving forward. Work on the burner is nearing completion and we expect the joint venture to demonstrate the furnace burner in due course, though no specific timeline has been established. Last week, Tathacus' wholly owned subsidiary, Crucero Resources Ltd., acquired 100 per cent working interest in 18 gas wells and an associated gas processing plant and gathering system in southeastern Alberta. The new facilities are expected to come on line this month and are expected to double Crucero's production to 1,000 mcf per day. This acquisition reinforces Tathacus' diversified energy strategy. Investing in undervalued assets that can be brought on line to maximize revenue quickly is a key element of the company's strategy. These revenues will be reinvested in the revenue-producing arm of the business, Crucero, and also used to fund the alternative energy portfolio through the heating joint venture with Xogen.

 Tathacus' current source of revenue from Crucero's sale of natural gas is obviously dependent on the price of gas. At historical and anticipated prices these revenues have been and are expected to remain sufficient to cover Tathacus' overhead and production and acquisition costs, while allowing the company to meet its joint venture obligations. Consultations regarding the scope of the independent audit requested by the CDNX in its May 2 communication are ongoing. Tathacus continues to explore all means of expediting the audit process and is committed to communicating the expected timeline for the audit when preliminary issues have been resolved.

 Once again, I would like to thank our shareholders for their patience. I will continue to keep you updated on a regular basis. Yours truly, Barrie Shibley President & CEO Tathacus Resources Ltd.