| jpfwyy | Date: Saturday, 2013-08-24, 9:04 PM | Message # 1 |
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| Rock Energy Announces Sale of remaining Montney natural gas Assets at Elmworth
CALGARY, ALBERTA(Marketwire feb.. 14, 2012) Rock energy Inc. (TSX:re also) ("are a blast") Is pleased to announce that it has signed a second purchase and sale agreement for the sale of its remaining Montney natural gas assets in Elmworth to a Canadian oil and gas producer. Gross cash, Including arises from the asset sale previously announced on February 9, 2012, Total $46 million. Closing of this final transaction is predicted to occur before the end of February 2012 and is subject to customary asset sale conditions. FirstEnergy prime city Corp. Acted as exclusive financial advisor to Rock for this exchange.
This home sale, and also the asset sale previously announced on February 9th, 2012 have combined production from the Elmworth area of 310 boe per day during the fourth quarter of 2011 with proved reserves of 5.9 million boe and proved and probable reserves of 12.6 million boe (in line with the GLJ reserves report effective August 31, 2011). no more than 40,900 <a href=http://derkzenmotorsports.com/fashion.html>uggクラシックミニ
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</a> net acres of pristine land with petroleum and natural gas rights to the Montney are included in these asset sales.
Adjusted for the sale of the Elmworth assets, Current output is estimated to be 2,400 boe a day (75% crude oil and propane liquids). apart from an undrawn bank facility of $45 million, Rock will have over $10 million of cash after the closing of the sale of these remaining assets. the utilization of any of the words "should, "can possibly expect, "hope, "software programs, "possib" And similar expressions usually are meant to identify forwardlooking statements or information. More mostly and without limitation, This press <a href=http://colloidalsilverhowto.com/vogue.html>アグ
</a> release contains forward looking statements and information in connection with sale by Rock of its remaining natural gas assets in Elmworth.
The forwardlooking statements and information in this pr release are based on certain key expectations and assumptions made <a href=http://uminomegumi.com/ugly.html>uggムートンブーツ
</a> by Rock. Although Rock believes that the optimism and assumptions on which such forwardlooking statements and <a href=http://teibunsifucoidanya.com/cozy.html>アグブーツ激安
</a> information are based are reasonable, Undue reliance should not be placed on the forwardlooking statements and information because Rock can give no assurance that they need to prove to be correct. There is no certainty that Rock will achieve retail viable production from its undeveloped lands and prospects.
We have adopted the high quality of 6 mcf:1 barrel of oil same ("boe") When converting propane to boes. Boes may be deceiving, especially if used in isolation. A boe conversion ratio of 6 mcf per barrel is based on an energy equivalency 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 distinct from the energy equivalency of the 6:1 alterations ratio, generating use of the 6:1 conversion ratio may be misleading as the sign of value.
The forwardlooking statements and information contained in this pr release are made as of the date hereof and Rock undertakes no obligation to update publicly or revise any forwardlooking statements or information, Whether because of a new information, Future events you aren't, Unless so required by applicable securities laws.
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