ENP Newswire -
Release date- 29082014 -
The Revolving Facility will be secured by a general security agreement conveying a first floating charge over all real and personal property and after acquired assets and an undertaking to grant, at the request of ATB, a first fixed charge on all property interests. The Company intends to use advances from the Revolving Facility for general corporate purposes related to the exploration, development, production and acquisition of domestic oil and natural gas reserves within the
The Company is pleased to announce that
The Company has completed installation of larger surface equipment at the 9-3-76-21W5M surface pad (8-2, 9-2, and 16-2-76-21W5M producing wells) and at the 12-21-76-21W5M surface pad (which services the 8-21-76-21W5M producing well) and expects to recover clean oil and water by the end of September, 2014.
The Company is encouraged by the amount of
In light of the foregoing developments, the Company has entered into an amended agreement with
The Company believes that the proceeds from the Offering, together with the funds available under the Revolving Facility, will provide sufficient capital to meet the Corporation's ongoing capital requirements and minimizes dilution to the Company's shareholders.
The Company will use the proceeds from the Flow-Through Common Share offering to drill the two 'Canadian Exploration Expense' (as defined in the Income Tax Act (
The Completion of the Offering is expected to occur on or about
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Forward-looking Statements and Information
This news release contains certain 'forward-looking statements' or 'forward-looking information' (collectively referred to herein as 'forward-looking statements') within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur or be achieved.
This news release contains forward-looking statements, pertaining to, among other things, the following: the timing, method, costs and recovery from future drilling operations; infrastructure development and the timing and effects thereof; facilities construction and equipment installation and the cost, timing and effects thereof; approval of the Company's application by the
Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in
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