Prairie West Oil and Gas announces negotiations on new producing heavy oil acquisition close to completion
(firmenpresse) - Prairie West Oil and Gas announces negotiations on new producing heavy oil acquisition close to completion.
Online production will represent another immediate increase in net cash flow.
Prairie West Oil & Gas is excited to announce that negotiations on a new producing heavy oil acquisition in the Lloydminster region of Alberta Canada are close to completion with every indication that the terms of the deal will be most favorable for Prairie West and its shareholders.
This purchase once complete further validates Prairie West’s strategy for growth and again demonstrates a track record of execution while maintaining true to the company’s core values.
From an operational standpoint the company believes this asset is another synergistic move in the right direction because of the close proximity of this heavy oil play to the company’s previous announced successful Maidstone acquisition.
About Prairie West (http://www.prairiewestonline.com)
Prairie West Oil & Gas Ltd. (FRA: 1WP.F) is a dynamic oil and gas corporation operating in the center of Canada's highest reserve epicenter - the oil boom provinces of Alberta and now Saskatchewan. Prairie West's primary long-term development project is strategically placed within the highly productive Twining area which is surrounded by major multi-national energy giants such as EnCana, Suncor and Devon Energy. This project is immediately adjacent to the enormous Twining Rundle/Mannville Pool with original oil in place of 1.013 billion barrels equivalent. As a secondary strategy, the company continues to successfully lay the groundwork for future growth by taking advantage of an enhanced negotiating position, bargains and opportunities that have arisen due to the recent economic volatility.
This company news release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Prairie West Ltd., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Investor Hotlines:
English / Español: +1 888 414 7276
Deutsch: +49 (0) 69 21 65 59 10
Leseranfragen:
Prairie West Oil and Gas
Gary Pearce
888 3rd Street SW Suite 1000
Calgary, Alberta T2P5C5
TEL. 403 444 6880 403 444 6880
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Datum: 24.08.2010 - 09:03 Uhr
Sprache: Deutsch
News-ID 24838
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Business News
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