Maple Leaf 2011 Energy Income Limited Partnership: Notice of March Cash Distribution-$1.50 Per Unit
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 03/23/12 -- Maple Leaf 2011 Energy Income Limited Partnership (the "Partnership") is pleased to announce its March cash distribution of $1.50 per unit. This distribution is from revenue realized from the sale of the Partnership's oil and gas production for the month of January 2012.
The payment date of this cash distribution is March 30, 2012 to all unitholders of record on March 23, 2012. This cash distribution will be deposited directly into unitholder accounts (i.e. the account at the Investment Dealer where investors hold their partnership units).
UPDATE SUMMARY
The Partnership completed its financing on October 28, 2011 and the Fund has now fully invested all available capital into 12 joint ventures located in North Central Alberta.
Within this 12 well horizontal drilling program, 11 of the wells are targeting light oil in the Cardium formation and one well is targeting liquids rich gas in the Notikewin formation.
To date, 10 of the 12 wells in the program have been successfully drilled and 9 of those 10 drilled wells are tied-in and are currently meeting production expectations. It is anticipated that the remaining 2 wells in the program will be completed, tied-in and commence production after spring breakup.
The producing wells in the Fund have met expectations in regard to initial productions levels and the Fund's drilling success rate is 100%.
The Fund anticipated that the first cash distributions would be paid to investors in June of 2012; however, distributions to limited partners commenced 5 months ahead of schedule. The Fund paid its first cash distribution in January 2012 at $0.50 per unit, the cash distribution increased to $1.12 per unit for February 2012 and to $1.50 per unit payable for March 2012 as production from more of the Fund's wells came on stream.
To the end of March 2012 the Fund will have paid out $3.12 cash per unit.
The Partnership's joint venture partner is Bellatrix Exploration Ltd. (). Bellatrix is an intermediate exploration and production company based in Calgary, Alberta and is traded on the Toronto Stock Exchange under the symbol BXE.
OIL & GAS PRICE VOLATILITY
Commodity (oil & gas) price volatility can have a significant impact on the amount of revenues realized by the Partnership from the sale of its oil & gas, and correspondingly, the amount of cash distributions the Partnership is able to pay to investors.
Along with the aforementioned cash distribution, investors in the Partnership also benefit from tax deductions of up to 100% of the amount of capital invested.
This press release contains forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects or anticipates will or may occur in the future, including such things as, the commencement of expected revenues, the plan for the Second Program, the investment of the Partnership's remaining available funds, and other such matters is forward-looking information. When used in this press release, the words "indicate", "expect", "intend", "hopes", "believe", "may", "will", "if", "anticipate", and similar expressions are intended to identify forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Partnership to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainties including that the Partnership may not hold or discover commercial quantities of resources and will be subject to fluctuations in commodity prices, exchange rates, and regulatory and policy risk; fees and expenses payable by the Partnership may decrease the assets available for investment by the Partnership; there can be no assurance that oil and gas companies will honour their obligations under investment agreements; there may be defects in title to or other ownership disputes with respect to properties subject to investments; oil and natural gas production and exploration are high risk activities; the Partnership competes with other entities in the oil and gas industry, many of whom are larger, which may decrease the investment opportunities available to the Partnership; there can be no assurance that expectations based on past experience will be indicative of future results; as well as those factors discussed under the headings "Cautionary Statement Regarding Forward Looking Information" and "Risk Factors" in the Partnership's prospectus dated August 16, 2011 and other documents filed with Canadian securities regulatory authorities. Although the Partnership has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, the Partnership assumes no obligation to publicly update any forward-looking information; whether as a result of new information, future events or otherwise.
Contacts:
Maple Leaf 2011 Energy Income Limited Partnership
Shane Doyle
President
604.684.5750 or Toll Free: 866.688.5750
604.684.5748 (FAX)
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Datum: 23.03.2012 - 19:34 Uhr
Sprache: Deutsch
News-ID 128004
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CALGARY, ALBERTA
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Oil & Gas
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