CALGARY -Rubellite Energy Inc. ('Rubellite', or the 'Company'), a pure playClearwater oil exploration and development company, is pleased to: 1. Report fourth quarter and year-end 2021 financial and operating results; 2. Provide a summary of the Company's year-end 2021 reserves as evaluated by the independent engineering firmMcDaniel and Associates Consultants Ltd. ('McDaniel'); 3. Provide a drilling operations update; 4. Announce that Rubellite has entered into a letter of intent to execute a farm-in and option arrangement in the Peavine area of northernAlberta , capturing exposure to an additional 61 sections of land prospective for theClearwater formation and 5. Provide 2022 guidance.
Annual financial and operating results reflect the period from
This release contains certain specified financial measures that are not recognized by GAAP and used by management to evaluate the performance of the Company and its business. Since certain specified financial measures may not have a standardized meaning, securities regulations require that specified financial measures are clearly defined, qualified and, where required, reconciled with their nearest GAAP measure. This release also contains forward-looking information.
FORWARD-LOOKING INFORMATION
Certain information in this news release including management's assessment of future plans and operations, and including the information contained under the headings 'Fourth Quarter 2021 Highlights' and '2022 Outlook and Guidance' may constitute forward-looking information or statements (together 'forward-looking information') under applicable securities laws.
Forward-looking information is based on current expectations, estimates and projections that involve a number of known and unknown risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Rubellite and described in the forward-looking information contained in this news release. In particular and without limitation of the foregoing, material factors or assumptions on which the forward-looking information in this news release is based include: the successful operation of the
Undue reliance should not be placed on forward-looking information, which is not a guarantee of performance and is subject to a number of risks or uncertainties, including without limitation those described herein and under 'Risk Factors' in Rubellite's Annual Information Form and MD&A for the year ended
Contact:
Tel: 403-269-4400
Fax: 403-269-4444
Email: info@rubelliteenergy.com
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