The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. More particularly and without limitation, this new release contains forward looking information relating to: fourth quarter 2012 and fiscal 2012 average daily production levels and light oil and NGLs weighting, estimated cumulative production for the Ante Creek 4-35 and 13-26 wells, the anticipated on-stream date for the Ante Creek 1-36 well, timing of an Ante Creek well at 13-27 and the timing of RMP's fifth well at Ante Creek, firm service arrangement details at Ante Creek and associated volumes, timing of Ante Creek battery expansion, estimated ultimate recovery data of Waskahigan wells, thirty-day producing initial production averages of Waskahigan wells drilled in 2012, RMP's plan at Waskahigan to establish and build a core Montney light oil resource project with the requisite size and scale to drive significant future production and cash flow growth, drilling inventories at Waskahiagn and Ante Creek, the timing of completion operations on the Company's Grizzly 4-5 well, and RMP's plans in respect of its 4-14 well at South Ante Creek.
These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry ; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements.
In this news release RMP has adopted a standard for converting thousands of cubic feet ("mcf") of natural gas to barrels of oil equivalent ("boe") of 6 mcf:1 boe. Use of boes may be misleading, particularly if used in isolation. The boe rate is based on an energy equivalent conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different than the energy equivalency of the 6:1 conversion ratio, utilizing the 6:1 conversion ratio may be misleading as an indication of value.
Field operating income or field cash flow refers to realized wellhead revenue less royalties, operating expenses and transportation costs. Field netback is field operating income per barrel of oil equivalent. Field operating income and netback are not recognized measures under IFRS and does not have a standardized meaning.
RMP Energy Inc.
President and Chief Executive Officer
RMP Energy Inc.
Vice President, Finance and Chief Financial Officer
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