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ok,very good,thankyou
The company should be able to say when the distribution will be made. Perhaps a shareholder's broker could advocate by contacting the company.
Unfortunately, FINRA did not post any of the details.
As posted by FINRA:
Daily List Date 12/02/2015 16:11:19
Event Type: Acquisition/Merger/Amalgamation
Effective/Ex Date: 12/03/2015 00:00:00
Symbol CXLIF
Issue Name KICKING HORSE ENERGY INC Common Shares
Market Category Other OTC
Offering Type No Restrictions
Daily List Comment: Shareholders will receive $4.75 in cash for each Share held.
CXLIF: Shareholders will receive $4.75 in cash for each Share held.
FINRA deleted symbol:
http://otce.finra.org/DLDeletions
very good thankyou
Good interview with Steve Harding Kicking Horse ceo-
http://www.bnn.ca/Video/player.aspx?vid=556912
this us relevant as well-
http://www.maritime-executive.com/article/canadas-new-brunswick-bans-fracking
futr
Kicking Horse winter 2015 Presentation-
http://kickinghorseenergy.com/kicking-horse-winter-presentation/
futr
It sure went up- I wonder why? WINKY :) Shout out to my Canadian brothers.
Contact Exploration Inc. changed to Kicking Horse Energy Inc.:
http://otce.finra.org/DailyList
Contact Announces Results for the Three and Six Months Ended September 30, 2014
CALGARY, ALBERTA--(Marketwired - November 28, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE: CEX) is pleased to announce that today it has filed its interim condensed consolidated financial statements as at and for the three and six months ended September 30, 2014 and the related management's discussion and analysis ("MD&A") on the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com.
President's Message
Contact's fiscal second quarter was one that saw the Company both significantly advance its business plan and, subsequent to the quarter, enter into an attractive merger that will more than triple the Company's ownership at East Kakwa.
The Company drilled three wells through spring breakup into June 2014 and then subsequently completed these wells during the summer. These wells, specifically 2-18-63-5W6, 8-20-63-5W6 and 9-20-63-5W6, were each drilled to a horizontal length of approximately 1.5 miles, almost 50% longer than each of Contact's first 8 wells at Kakwa, and yet the time to drill two of these wells was slightly faster than the best one mile well drilled by Contact to date. Following completion, each of these wells was equipped, tied into Contact's central processing facility and brought onto production, elevating the Company's net production from approximately 400 boe/d to more than 1,000 boe/d.
The 16-7 central compression and condensate stabilization facility was fully constructed and commissioned almost a year ago. The facility was designed to initially handle up to 2,500 bbls/d of condensate and 15MMcf/d natural gas. Continued success with the operational program has led Contact to initiate a doubling of the facility's capacity, to handle expected production growth. Contact expects this facility expansion to be completed by spring 2015.
A second rig was contracted by Contact in July 2014, allowing drilling operations to accelerate at East Kakwa. Since that time five additional wells (1.25 net) have been drilled by Contact, three (0.75 net) of which have been completed to date. Additionally, Contact is currently drilling its sixteenth and seventeenth operated wells, and expects to keep both rigs active until spring breakup 2015. Contact anticipates having a total of 7 gross new wells drilled and completed before spring breakup 2015.
The merger of Contact with Donnycreek Energy Inc. announced October 21, 2014 combines the Company's 25% interest in the East Kakwa asset with Donnycreek's 50% interest in that same property. Production of the combined entity will increase from Contact's current approximate 1,000 boe/d to approximately 3,000 boe/d. The merger will also add to the combined entity Donnycreek's significant undeveloped land holdings, including a 62% working interest in two additional sections contiguous to an offsetting satellite section at East Kakwa, Donnycreek's Montney acreage on the west side of the basin at Chicken and a large Montney land position in the Wapiti area north east of Kakwa, containing various sections with shallow mineral rights having Wilrich Formation potential.
Although the recent downturn in oil prices negatively impacts overall profitability for our Montney project, Contact expects that the robust netbacks we have achieved will continue to allow for strong economic returns within a lower oil price environment. On November 7, 2014, the Company completed a bought deal financing whereby Contact issued 62,215,000 common shares at a price of $0.37 per share for gross proceeds of $23.0 million, which provided further strength to the balance sheet.
We believe Contact is poised for continued growth in the coming months. The Montney reservoir at Kakwa continues to perform, such that Contact believes the value of the Kakwa asset is, and will continue to be, significant and will play a key role in driving future growth for the Company.
Financial Summary
Financial
(000s, except per share amounts) Q2 15 Q2 14 % Change YTD 2015 YTD 2014 % Change
Funds from operations $ 1,500 $ 1,005 49 % $ 3,550 $ 2,176 63 %
Per share-Basic 0.01 0.00 26 % 0.01 0.01 25 %
Net income $ 516 $ 492 5 % $ 1,603 $ 943 70 %
Per share-Basic & Diluted 0.002 0.002 0 % 0.006 0.004 50 %
Total capital expenditures $ 10,318 $ 3,856 168 % $ 13,903 $ 4,542 206 %
Net debt (surplus) 4,854 (3,757 ) -229 % 4,854 (3,757 ) -229 %
Operations
Average daily production
Oil & NGLs (bbls/d) 242 190 27 % 243 198 23 %
Natural gas (mcf/d) 947 840 13 % 1,093 812 35 %
Combined (boe/d) 400 330 21 % 425 333 27 %
% Oil & NGLs 61 % 58 % 5 % 57 % 59 % -4 %
($/boe)
Sales price $ 69.24 $ 64.44 7 % $ 72.43 $ 65.05 11 %
Royalties 5.28 6.36 -17 % 5.94 6.36 -7 %
Operating expenses 12.97 11.02 18 % 12.95 11.00 18 %
Transportation expenses 3.76 3.23 17 % 4.17 2.69 55 %
Operating netback $ 47.23 $ 43.82 8 % $ 49.38 $ 45.00 10 %
About Contact Exploration Inc.
Contact Exploration Inc. is a public oil and gas company that has demonstrated success in Alberta's liquids-rich Montney Formation tight gas play and has a long history of operating in Atlantic Canada. For more information, please see the Company's website: www.contactexp.com
ADVISORY ON FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "continue", "estimate", "may", "will", "should", "believe", "plans", "cautions" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated benefits of the merger with Donnycreek Energy Inc. including the anticipated production increases and increased land holdings, the timing for the expansion of the 16-7 facility, the timing for the drilling of the sixteenth and seventeenth East Kakwa wells, the number of gross wells anticipated to be drilled and completed at East Kakwa by the Company before spring breakup 2015 and the Company's expected economic returns, despite lower oil prices, and the expected value of the Kakwa asset. Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Contact which have been used to develop such statements and information but which may prove to be incorrect. Although Contact believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Contact can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. In particular, in addition to other factors and assumptions which may be identified herein, no assurances can be given respecting: whether the Company's exploration and development activities respecting the Kakwa project will be successful or that material volumes of petroleum and natural gas reserves will be encountered, or if encountered can be produced on a commercial basis; the ultimate size and scope of any hydrocarbon bearing formations at the Kakwa project; that additional drilling and completion operations in the Kakwa project will be successful such that further development activities in this area is warranted; that Contact will continue to conduct its operations in a manner consistent with past operations; results from drilling and development activities will be consistent with past operations; the accuracy of the estimates of Contact's reserve volumes; the general stability of the economic and political environment in which Contact operates, including current oil prices; drilling results; field production rates and decline rates; the general continuance of current industry conditions; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Contact to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Contact operates; and the ability of Contact to successfully market its oil and natural gas products.
Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, including, without limitation: changes in commodity prices; changes in the demand for or supply of the Company's products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Contact or by third party operators of Contact's properties, increased debt levels or debt service requirements; inaccurate estimation of Contact's oil and gas reserve and resource volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in Contact's public disclosure documents. Additional information regarding some of these risk factors may be found under "Risk Factors" in the Company's Management Discussion and Analysis prepared for the year ended March 31, 2014. The reader is cautioned not to place undue reliance on this forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof and Contact undertakes no obligations 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.
futr
ok,looks like we get 3/4 of a new share in the kicking horse company per share of cxlif we hold...seems a good time to add now as donnycreek is worth a whole lot more that contact and sure to be a lot more that current pps when done
when will it be complet and nobody seems to be buying,i hope this merger is a good thing its quiet here wanting to add but wanting to understand if this is a good deal afterall
They probably sold everything else they own and bought into one co and one co only and so have no money to buy here
Just a guess, i've read it happends
whats your thoughts on this merger? would it be best to buy shares here or in Donny creek? trying to see whats best bang for the buck,why isn't there buying here? I mean isn't that merger good news?
why isn't anybody buying? this oppty looks good...
year end results..http://donnycreekenergy.com/siteFiles/88/files/DCK-06NOV2014.pdf
any thoughts of the pps when the merger is complete? mid December?
This is turning into a " Kicking Horse "
https://ca.finance.yahoo.com/news/donnycreek-merge-contact-exploration-inc-114100597.html
I was trying to find news on that link...meanwhile our other gem is moving up today,hopefully news soon
Everything proceeding according to plan,and firing on all cylinders-
http://web.tmxmoney.com/quote.php?qm_symbol=CEX
futr
so all is still a go and its a stepcloser? trying to understand all that info
Contact Provides Update on Investment in Pieridae Energy
CALGARY, ALBERTA--(Marketwired - Sept. 3, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) announces that it has been advised by Pieridae Energy Limited ("Pieridae") that on August 29, 2014 Pieridae closed a non-brokered private placement (the "Financing") of common shares pursuant to which it raised aggregate gross proceeds of $22.2 million at a price of $9 per share. Pieridae is a Canadian energy infrastructure development company that has partnered with Contact to secure natural gas supply opportunities for Pieridae's planned liquefied natural gas ("LNG") terminal in Goldboro, Nova Scotia. Pieridae has previously announced that it has secured E.ON, Europe's largest utility, as a major offtake partner for the terminal and has also secured the required environmental permits to advance the Goldboro LNG project.
As a result of the Financing, Contact has increased the carrying value of its investment in Pieridae to $15,024,708, up from the previous carrying value of $1,669,412. Contact has an ongoing option to participate in Pieridae's equity financings, however, the Company elected to not participate in the Financing. As a result, Contact's equity ownership in Pieridae has decreased from 13.51% to 11.45%.
As announced by the Company on March 4, 2013, Pieridae and Contact formed Pieridae Production Limited Partnership ("PPLP") to source, develop and produce natural gas to serve as significant portion of the feedstock for Pieridae's Goldboro LNG terminal. To date, Pieridae has not confirmed whether the use of proceeds from the Financing will include funding the drilling of the first two natural gas exploration wells proposed for PPLP's New Brunswick properties.
About Contact Exploration Inc.
Contact Exploration Inc. is a public oil and gas company which has a long-term history of operating in Atlantic Canada and has recently demonstrated success in Alberta's liquids-rich Montney Formation tight gas play. For more information, please see the Company's website: www.contactexp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Exploration Inc.
Steve Harding
President and CEO
(403) 695-3915
(403) 771-1091
sharding@contactexp.com
www.contactexp.com
futr
Thanks my man...as always duly noted my long time friend.
Not a bad play with experience with that part of Atlantic Can- I'm in...
CALGARY, ALBERTA--(Marketwired - July 28, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to announce that it has today filed its audited consolidated condensed financial statements for the year ended March 31, 2014 and the related management's discussion and analysis ("MD&A") on the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com.
http://web.tmxmoney.com/article.php?newsid=69269708&qm_symbol=CEX
http://web.tmxmoney.com/quote.php?qm_symbol=CEX
Year End Summary
2014
$ 2013
$ 2012
$
Petroleum and natural gas revenues 9,078,669 4,137,099 3,637,857
Net income (loss) 2,802,733 2,091,473 (4,013,722 )
Income (loss) per diluted share 0.012 0.010 (0.027 )
Total assets 61,524,066 39,856,749 20,079,933
Contact experienced significant growth during the 2014 fiscal year, with petroleum and natural gas revenues more than doubling and total assets increasing by more than 50% when compared to the 2013 year end.
Fourth quarter Highlights
Contact completed and commissioned its compression and condensate stabilization facility located at 16-7-63-5W6. The facility has since demonstrated the ability to receive up to 14 mmcf/d of natural gas production and associated condensate production which can be expanded as required.
Contact drilled its first well in the Upper Montney D4 interval located at 02/14-30-63-5W6 (the "02/14-30 Well"). Subsequent to year end, the well was completed and tied in to existing infrastructure.
Contact began drilling the first well on its three-well pad site with drilling continuing through year end. All three wells have been successfully drilled and completion operations are currently underway.
Contact's credit facilities were increased in the quarter to $7.7 million including a $4.5 million operating facility and a non-revolving acquisition and development demand loan of $3.2 million, and again subsequent to year end to an aggregate of 9.7 million.
Contact was included in the 2014 TSX Venture 50® as one of the top 10 performing companies in the oil and gas sector
About Contact Exploration Inc.
Contact Exploration Inc. is a public oil and gas company which has a long-term history of operating in Atlantic Canada and has recently demonstrated success in Alberta's liquids-rich Montney Formation tight gas play. For more information, please see the Company's website: www.contactexp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Exploration Inc.
Steve Harding
President and CEO
(403) 695-3915
(403) 771-1091
sharding@contactexp.com
www.contactexp.com
futr
got it to open...great oppty here!
having a hard time loading that,il try again,but whats the just of it?
Corporate Update
Summer 2014 (June)
http://www.contactexp.com/Presentation_2_files/CEX%20Corporate%20Presentation%20June%2010%202_1.pdf
Very sharp CEO.
He has some big plans and is forthright in his answers. Good find.
And then there's this from our JV Partner-
Pieridae Energy Canada (Pieridae) has selected CB&I to undertake Front-End Engineering and Design (FEED) for Goldboro LNG, a proposed liquefied natural gas (LNG) export facility.
Goldboro LNG, the east coast of Canada and the United States' closest mainland LNG export terminal to Europe and India, will consist of a processing plant and facilities for the storage and export of LNG, including a marine jetty. The facility is anticipated to produce approximately 10 million tonnes per annum (MTPA) of LNG and have on-site storage capacity of 690,000 cubic metres of LNG.
The FEED phase will determine the layout of the facility and associated components, as well capital expenditures, which are currently estimated at $8.3 billion.
"Having received Environmental Assessment approval from Nova Scotia's Minister of Environment in March 2014, the selection of CB&I to undertake FEED is another important milestone towards designing and constructing Goldboro LNG," said Alfred Sorensen, president and CEO, Pieridae.
"CB&I has served the liquefied natural gas industry for more than 50 years, having led or participated in more than 350 LNG projects and studies in 45 countries and this award builds on that experience," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "We look forward to working with Pieridae on the Goldboro LNG project, which upon completion will serve as North America's closest mainland LNG export terminal to Europe and India."
Pending receipt of all necessary regulatory and government permits and a positive final investment decision in 2015, Pieridae anticipates construction taking four years, with Goldboro LNG being commercially operational in 2020.
Pieridae is in advanced discussions with several natural gas producers, pipeline operators and LNG customers. In June 2013, Pieridae entered into a 20-year sales agreement with E.ON Global Commodities SE, a subsidiary of one of the world's largest investor-owned power and gas companies, to deliver approximately 5 MTPA of LNG from Goldboro LNG to E.ON.
The company has submitted an application to the National Energy Board (NEB) to import up to 1.0 billion cubic feet per day (Bcf/d) of natural gas through the existing pipeline systems between Canada and the United States, and export up to 1.4 Bcf/d of natural gas, as LNG, from Goldboro, NS, to international markets.
Pieridae anticipates that, at its peak, the Goldboro LNG terminal will create up to 3,500 jobs during construction and 200 full-time, permanent jobs during operations.
Read more at http://www.stockhouse.com/companies/bullboard/v.cex/contact-exploration-inc#SVjKhjEmdOebctfU.99
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BNN-TV Coverage
CEX.v getting some nice coverage on BNN...nice to see..
http://www.bnn.ca/Video/player.aspx?vid=375667
link shows up as 'Pieridae'-
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LNG Exports Gaining Momentum-
http://www.businessweek.com/videos/2014-05-06/moniz-on-lng-exports-to-europe-climate-report
futr
Contact Exploration's Proved Reserves Triple in Fiscal 2014
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to report that independent reserves evaluations effective March 31, 2014 have been completed by the Company's reserves evaluators in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and in accordance with the Canadian Oil and Gas Evaluation ("COGE") Handbook. GLJ Petroleum Consultants Ltd. ("GLJ") evaluated the Company's Stoney Creek and Hopewell properties in New Brunswick (the "GLJ Report"), while McDaniel and Associates Consultants Ltd. ("McDaniel") evaluated the Company's Montney Formation assets at East Kakwa, Alberta (the "McDaniel Report").
Highlights of the Company's reserves evaluations include (all reserve volumes are reported as net to the Company, before tax and royalty deductions with the increases referenced being against the evaluations carried out on Contact's reserves for the year ended March 31, 2013):
Total Company reserves (net proved and probable) increased by 43% to 10,643 MBOE (56% oil and natural gas liquids).
Total Company net present value (net proved and probable reserves discounted at 10%) increased by 69% to $174.4MM.
Total proved reserves increased from 1,815 MBOE (61% oil and natural gas liquids) to 5,926 MBOE (52% oil and natural gas liquids), an increase of 226%.
Net present value of proved reserves (discounted at 10%) increased from $28.0MM in 2013 to $92.7MM in 2014, an increase of 231%.
Kakwa - McDaniel Report
During the fiscal year ended March 31, 2014, the Company expanded development at its East Kakwa property, drilling and completing four additional Contact operated horizontal wells (average 25% working interest ("WI")) and participating in a fifth non-operated well (24% WI). The confirmed regional extent of prospective Montney reserves at East Kakwa was expanded and the prospectivity of a second zone (the Upper Montney D4 interval) was confirmed in the McDaniel Report. Considerable additional data was collected from Contact's extensive operational program, which included securing more than 100 meters of Montney formation core from the Company's 5-23-63-6W6 well. Also during the fiscal year, Contact successfully expanded its Kakwa pipeline gathering system and constructed and commissioned the 16-7 compressor and condensate stabilization facility.
The reserves assignments by McDaniel in the McDaniel Report now encompass 10.5 gross sections (out of 18.75 total gross sections) in the middle Montney (D2 interval) and two gross sections (out of 18.75 total gross sections) in the upper Montney (D4 interval) at East Kakwa, where Contact holds a 25% WI. Contact's Montney acreage at West Kakwa, Chime and Pinto, consisting of 61 composite sections (100% WI), were not evaluated as part of the McDaniel Report.
Highlights of the McDaniel Report include (all reserve volumes are reported as net to the Company, before tax and royalty deductions with the increases referenced being against the evaluation carried out on Contact's reserves at Kakwa by McDaniel for the year ended March 31, 2013):
East Kakwa proved plus probable reserves increased by 61% to 8,451 MBOE in 2014 consisting of 4,325 MBOE natural gas and 4,125 MBOE liquids.
The net present value of Contact's East Kakwa net proved and probable reserves (discounted at 10%) increased by 99% to $127.6MM.
East Kakwa proved reserves increased by 299% to 5,510 MBOE in 2014 consisting of 2,819 MBOE natural gas and 2,691 MBOE liquids.
The net present value of Contact's East Kakwa net proved reserves (discounted at 10%) increased by 332% to $82.5MM.
Stoney Creek New Brunswick - GLJ Report
The Company's Stoney Creek and Hopewell, New Brunswick reserve evaluation remained consistent from the year ended March 31, 2013, with total proved and probable reserves decreasing less than 1% (2,210 MBOE to 2,192 MBOE). Continued well performance at Stoney Creek, combined with improved commodity forecasts, enabled net present value (discounted at 10%) during the year ended March 31, 2014 to increase by 20% to $46.8MM from $38.9MM.
Operations Update
The Company's first mile and a half horizontal well was drilled from the 7-19 pad location at East Kakwa, reaching a total measured depth of 5,504 meters in 36 days. This well achieved total depth in fewer days than any of the Company's previous mile long horizontal wells. On the second well drilled from the 7-19 site, Contact is nearing total depth of 5,400 meters, at a similar pace to that of the first well. The Company expects to spud a third well off of the same surface pad before the end of May 2014. Once the third well has reached total depth, Contact plans to consecutively complete and tie-in each of these wells to the Company's existing infrastructure. Contact holds a 25% WI in all three wells.
In addition, Contact is the process of contracting a second rig that is expected to be used to accelerate drilling at East Kakwa. This rig could also be used for drilling on the Company's 100% WI acreage at West Kakwa, Chime or Pinto.
About Contact Exploration Inc.
Contact Exploration Inc. is a public oil and gas company which has a long-term history of operating in Atlantic Canada and has recently demonstrated success in Alberta's liquids-rich Montney Formation tight gas play. For more information, please see the Company's website: www.contactexp.com
Cautionary Statements
Information Regarding Disclosure on Oil and Gas Reserves and Operational Information
ADVISORY ON USE OF "BOEs": "BOEs" may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 mcf: 1 bbl) 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 or natural gas liquids as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
ADVISORY ON FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "continue", "estimate", "may", "will", "should", "believe", "plans", "cautions" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the volumes and net present values of the Company's reserves; timing to spud a new well at the 7-19 surface pad, the Company's plans to consecutively complete and tie-in three wells drilled at the 7-19 pad and the use of a second rig at East Kakwa.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Contact which have been used to develop such statements and information but which may prove to be incorrect. Although Contact believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Contact can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. In particular, in addition to other factors and assumptions which may be identified herein, no assurances can be given respecting: whether the Company's exploration and development activities respecting the Company's Kakwa and Stoney Creek projects will be successful or that material volumes of petroleum and natural gas reserves will be encountered, or if encountered can be produced on a commercial basis; the ultimate size and scope of any hydrocarbon-bearing formations at the Company's Kakwa and Stoney Creek projects; that the additional drilling operations in the Company's Kakwa and Stoney Creek projects will be successful such that further development activities in these areas are warranted; that Contact's efforts to raise additional capital will be successful; that Contact will continue to conduct its operations in a manner consistent with past operations; results from drilling and development activities will be consistent with past operations; the accuracy of the estimates of Contact's reserve volumes and those volumes reported by GLJ and McDaniel in the GLJ Report and the McDaniel Report, respectively; the general stability of the economic and political environment in which Contact operates; drilling results; field production rates and decline rates; the general continuance of current industry conditions; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Contact to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Contact operates; and the ability of Contact to successfully market its oil and natural gas products.
Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: changes in commodity prices; changes in the demand for or supply of the Company's products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Contact or by third party operators of Contact's properties, increased debt levels or debt service requirements; inaccurate estimation of Contact's oil and gas reserve and resource volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in Contact's public disclosure documents. Additional information regarding some of these risk factors may be found under "Risk Factors" in the Company's management discussion and analysis prepared for the year ended March 31, 2013. The reader is cautioned not to place undue reliance on this forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof and Contact undertakes no obligations 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.
Internal estimates
Certain information contained herein are based on estimated values the Company believes to be reasonable and are subject to the same limitations as discussed under "Advisory on Forward-Looking Statements" above.
Oil and Gas Advisory
The reserves information contained in this press release has been prepared in accordance with NI 51-101. Complete NI 51- 101 reserves disclosure will be included in the Company's filing for the year ended March 31, 2014 required in accordance with NI 51-101, which are expected to be filed in late June 2014. Listed below are cautionary statements applicable to our reserves information that are specifically required by NI 51-101:
Individual properties may not reflect the same confidence level as estimates of reserves for all properties due to the effects of aggregation.
This press release contains estimates of the net present value of our future net revenue from our reserves. Such amounts do not represent the fair market value of our reserves.
Reserves included herein are stated on a Company Interest basis (before royalty burdens and including royalty interests) unless noted otherwise as well as on a gross and net basis as defined in NI 51-101. "Company Interest" is not a term defined by NI 51-101 and as such the estimates of Company Interest reserves herein may not be comparable to estimates of "gross" reserves prepared in accordance with NI 51-101 or to other issuers' estimates of Company Interest reserves."
Additionally, the recovery and reserve estimates of Contact's reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered.
Certain Defined Terms
Bbl - barrel
BOE - barrels of oil equivalent
BOE/d - barrels of oil equivalent per day MBOE - million barrels of oil equivalent
Mcf - thousand cubic feet
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Exploration Inc.
Steve Harding
President and CEO
(403) 695-3915
(403) 771-1091
sharding@contactexp.com
www.contactexp.com
futr
Contact Trading @ New 52 week High-
http://tmx.quotemedia.com/quote.php?qm_symbol=CEX
futr
Early 2019-
http://goldborolng.com/project/project-overview/
http://goldborolng.com/
http://goldborolng.com/2014/04/pieridae-president-trade-mission-germany/
And make sure to read this...as it highlights the problems our competitors face!
Great Article on Future of Canadian Oil Sands Production-
http://www.bloomberg.com/news/2014-05-02/how-canada-s-flirtation-with-a-china-oil-market-soured.html
futr
Proposed ground breaking 2015
LNG Opportunity
looks like good oppty,looks like they got their permits,i wonder how long it takes to build it
April 2014 Corporate Presentation-
http://www.contactexp.com/Presentation_2_files/CEX%20Corporate%20Presentation%20Apr%202.pdf
futr
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