GUERNSEY, BRITISH ISLES--(MARKET WIRE)--Apr 8, 2009 -- CanArgo Energy Corporation ("CanArgo" or the "Company") (Oslo:CNR.OL - News)(OTCQX: CANR) today announced that its common stock has been delisted from the NYSE Alternext US LLC exchange effective April 6, 2009. The stock now trades in the U.S. over-the-counter market under the symbol "CANR" as quoted in the "Pink Quote" maintained by Pink OTC Markets, Inc.

CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.

The matters discussed in this press release 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 harbour 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.

     Contacts:
     US and NORWAY
     Eric Cameron
     Gambit Hill & Knowlton AS
     +47 96 62 55 94
     Email: canargo@hillandknowlton.com
      
     US and NORWAY
     Christopher Rodsten
     Gambit Hill & Knowlton AS
     +47 96 62 55 94
     Email: canargo@hillandknowlton.com
      
     US and NORWAY
     Fredrik Tangeraas
     Gambit Hill & Knowlton AS
     +47 96 62 55 94
     Email: canargo@hillandknowlton.com