Receives funds from payout adjustment in Ricinus area
Office relocation effective July 1st
CALGARY, June 22 /CNW/ - EMM Energy Inc. "EMM" (TSX VENTURE:M) acquired
an additional 63% working interest in its Lomond, Alberta core area producing
80 boepd to EMM. The company now has 100% working interest in all the lands
and wells it currently operates in Lomond. EMM will continue to pursue
additional development opportunities in the Lomond area.
In addition EMM received $1.75 million for the Ricinus well as the payout
date was adjusted from October 2008 to June 2008 when EMM converted to a 20%
The Company is currently producing approximately 350 boe/d and has a
positive cash balance. EMM is actively pursuing acquisition and development
The Company will be relocating offices July 1st, to the address below.
EMM Energy Inc.
510, 304 - 8th Avenue S.W.
EMM is a junior oil and gas company operating in Alberta and trades on
the TSX Venture Exchange under the symbol "M".
Additional information and EMM financial statements are available on
SEDAR at www.sedar.com
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein.
This press release may include forward-looking statements which are
statements other than of historical fact, such as information regarding
drilling potential and production forecasts. Factors that could cause actual
results to differ materially from our expectations include exploration and
development risks, commodity prices and operating hazards. A barrel of oil
equivalent (boe), derived by converting gas to oil in the ratio of six
thousand cubic feet of gas to one barrel of oil, may be misleading,
particularly if used in isolation. A boe conversion is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead.
For further information:
For further information: EMM Energy Inc., Brian Boulton, President,
phone (403) 213-3339