Press Release Dated NOvember 26, 2007
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF
NOVEMBER 2007
METHANEX CORPORATION
(Registrant’s name)
SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82 .
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on behalf by the undersigned, thereunto duly authorized.
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METHANEX CORPORATION
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| Date: November 26, 2007 |
By: |
/s/ RANDY MILNER
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Name: |
Randy Milner |
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Title: |
Senior Vice President, General Counsel
& Corporate Secretary |
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NEWS RELEASE
Methanex Corporation
1800 – 200 Burrard St.
Vancouver, BC Canada V6C 3M1
Toll-Free: 1-800-661-8851
http://www.methanex.com
For immediate release
November 26, 2007
METHANEX ANNOUNCES AGREEMENT WITH GEOPARK TO SECURE NATURAL GAS FOR CHILE OPERATIONS
Methanex Corporation announced today that it has signed a natural gas prepayment agreement with
GeoPark Holdings Limited. Methanex will provide US$40 million in financing to support and
accelerate GeoPark’s natural gas exploration and development activities in the Fell Block in
Southern Chile. Under the arrangement, GeoPark will also provide Methanex with natural gas supply
sourced from the Fell Block under a ten year supply agreement. GeoPark has been increasing its gas
supply to Methanex since 2006 and its goal is to provide up to 10% of Methanex’s total natural gas
needs in Chile by the end of 2008.
Methanex’s Latin America Senior Vice President, Paul Schiodtz, commented, “This prepayment
agreement represents an important step to restore secure, long term gas supply to our plants in
Chile. We are delighted to be working closely with GeoPark who have been very successful both
discovering new gas and investing in infrastructure to increase natural gas deliveries to our
plants.”
Mr. Schiodtz continued, “We are also very pleased with the results in the bidding process for oil
and gas exploration in the south of Chile. The Chilean Government recently announced the
participation of five other international oil and gas companies in gas exploration and development
in areas which are all very close to our plants.”
James Park, CEO of GeoPark added, “This strategic alignment of Methanex and GeoPark strengthens
both companies — by increasing the supply of natural gas in Chile for Methanex and by underpinning
the long term development of GeoPark’s natural gas reserves. The agreement secures an economic long
term market for all of GeoPark’s Chilean gas production while also providing a source of financing
to accelerate capital investment.”
Methanex is a Vancouver based, publicly traded company engaged in the worldwide production,
distribution and marketing of methanol. Methanex shares are listed for trading on the Toronto Stock
Exchange in Canada under the trading symbol “MX”, on the NASDAQ Global Market in the United States
under the trading symbol “MEOH”, and on the foreign securities market of the Santiago Stock
Exchange in Chile under the trading symbol “Methanex”. Methanex can be visited online at
www.methanex.com.
GeoPark is a Latin American oil and gas producer and explorer with properties in Argentina and
Chile. GeoPark shares are listed for trading on the Alternative Investment Market (AIM) of the
London Stock Exchange under the trading symbol “GPK”. GeoPark can be visited online at
www.geo-park.com.
Information in this press release contains forward-looking statements. Certain material factors
or assumptions were applied in drawing the conclusions or making the forecasts or projections that
are included in these forward-looking statements. Methanex believes that it has a reasonable basis
for making such forward-looking statements. However, forward-looking statements, by their nature,
involve risks and uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. The risks and uncertainties include those attendant
with producing and marketing methanol and successfully carrying out major capital expenditure
projects in various jurisdictions, the ability to successfully carry out corporate initiatives and
strategies, conditions in the methanol and other industries including the supply and demand balance
for methanol, the success of natural gas exploration and development activities in southern Chile
and our ability to obtain any additional gas in that region on commercially acceptable terms,
actions of competitors and suppliers, changes in laws or regulations in foreign jurisdictions,
world-wide economic conditions and other risks described in our 2006 Management’s Discussion &
Analysis. Undue reliance should not be placed on forward-looking statements. They are not a
substitute for the exercise of one’s own due diligence and judgment. The outcomes anticipated in
forward-looking statements may not occur and we do not undertake to update forward-looking
statements.
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Inquiries:
Jason Chesko
Director, Investor Relations
Methanex Corporation
604-661-2600