/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, July 12, 2012 /CNW/ - Calvalley Petroleum Inc. ("Calvalley" or
the "Company") announces a corporate update further to its news release
of July 11, 2012. In light of a number of inquiries received as a
result of today's announcement by DNO International ASA, the Company
confirms that the Special Committee that was established by its Board
of Directors will continue to explore and consider strategic
alternatives with the objective of maximizing value for all
About Calvalley Petroleum Inc.
Calvalley Petroleum Inc. is an international oil and gas company, with
offices in Calgary, Alberta, Canada, that operates its 50% working
interest in Block 9 of the Masila Basin, in The Republic of Yemen and
its 100% working interest in the Gimbi and Metema Blocks of the Blue
Nile Basin, in The Republic of Ethiopia.
Certain information contained herein may constitute forward-looking
statements under applicable securities laws. Such statements are
subject to known or unknown risks and uncertainties that may cause
actual results to differ materially from those anticipated or implied
in the forward-looking statements. Investors are encouraged to review
the principal risks associated with the Corporation's operations set
out in the Corporation's Annual Information Form for the year-ended
December 31, 2011, a copy of which is filed on SEDAR at www.sedar.com. Forward-looking statements are based upon management's assumptions,
expectations and estimates at the time that such statements are made.
The Corporation does not update forward-looking statements should
circumstances change or management's assumptions, expectations or
estimates change, except as required by law.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Calvalley Petroleum Inc.
For further information:
email@example.com or +1 (403) 297-0490
Edmund Shimoon, Chairman and CEO
Gerry Elms, CFO