Note that certain 'Coelacanth Arrangement Warrants' as further described below are not listed for trading but the underlying Coelacanth common shares ('Coelacanth Shares') will be listed on the TSXV once exercised.
Each Coelacanth Arrangement Warrant entitles the holder to purchase one Coelacanth Share up until
Each unit was comprised of one Coelacanth Share and one Coelacanth Share purchase warrant, each warrant entitling the holder to acquire one Coelacanth Share at a price of
Contact:
Tel: 403-705-4525
Web: www.coelacanth.ca
FORWARD LOOKINGSTATEMENTS
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'continue', 'estimate', 'may', 'will', 'should', 'believe', 'intends', 'forecast', 'plans', 'guidance' and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this document contains forward looking statements and information relating to cash and the number of Coelacanth Arrangement Warrants anticipated to be exercised in the future. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities and the availability and cost of labour and services. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty and environmental legislation. The forward looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company's expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Meaning of boe/d: When used in this press release, boepd means a barrel of oil equivalent per day.
A boe conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent has been used for the calculation of boe amounts in this news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in
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