First Quarter 2013 Earnings Release Date
Lone Pine has scheduled its first quarter 2013 earnings release to be issued after the close of trading on the New York Stock Exchange and Toronto Stock Exchange on Thursday, May 9, 2013.
A conference call is scheduled for Friday, May 10, 2013 at 10:00 AM MT to discuss the release. To participate, please dial 866-318-8616 (toll-free from North America) or 617-399-5135 and request the Lone Pine teleconference (ID#44284279) or listen to the webcast on Lone Pine's website at www.lonepineresources.com. A replay will be available through June 10, 2013 by dialing 888-286-8010 or 617-801-6888 and entering passcode #80212384.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Canadian securities laws. All statements, other than statements of historical facts, that address activities that Lone Pine assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this news release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. Lone Pine cautions that the Company's business strategy, its plans for development of its assets, its plans for waterflooding, its liquidity expectations and infrastructure related cost savings and other forward-looking statements relating to Lone Pine are subject to all of the risks and uncertainties normally incident to such endeavors.
These risks relating to Lone Pine include, but are not limited to, oil and natural gas price volatility, its access to cash flows and other sources of liquidity to fund its capital expenditures, its level of indebtedness, its ability to replace production, the impact of the current financial and economic environment on its business and financial condition, a lack of availability of, or increase in costs relating to, goods and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating future oil and gas production or reserves and other risks as described in reports that Lone Pine files with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and the other reports that Lone Pine files with the SEC and with Canadian securities regulators. Any of these factors could cause Lone Pine's actual results and plans to differ materially from those in the forward-looking statements.
Units of Equivalency
This news release discloses certain information on an "equivalency" basis with oil and NGL quantities converted to Mcfe (thousand cubic feet of gas equivalent) or MMcfe (million cubic feet of gas equivalent) based on a conversion ratio of one bbl of liquids to six Mcf of natural gas. Units of equivalency such as Mcfe and MMcfe may be misleading, particularly if used in isolation. A Mcfe conversion ratio of one bbl of crude oil or NGLs to six Mcf of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Although this conversion ratio is an industry accepted norm, it is not reflective of price or market value differentials between product types. Capital expenditure estimates are based on our current expectations as to the level of capital expenditures that will be justified based upon the other assumptions set forth in this news release as well as expectations about other operating and economic factors.
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