CanArgo's Listing on the American Stock Exchange Approved

CanArgo Energy (OTCBB:GUSH) (OSE:CNR) has received approval from the American Stock Exchange to list its shares of common stock on the Exchange under trading symbol "CNR".

This approval is contingent upon CanArgo being in full compliance with all applicable listing standards on the date it begins trading on the Exchange. The Company expects to begin trading on the Exchange on April 21, 2004.

CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in the Republic of Georgia and the Caspian area.