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CALGARY, Nov. 9, 2011 /CNW/ - Marquee Petroleum Ltd. (TSXV: MQE)
("Marquee" or the "Company") is pleased to provide an update to its
news release of October 11, 2011 (the "Initial Announcement")
announcing the proposed combination of the businesses of Marquee and
SkyWest Energy Corp. ("SkyWest") (TSXV:SKW) (the "Arrangement").
Further to the Initial Announcement, the special meeting of Marquee
securityholders to consider the Arrangement and certain related matters
will be held in the Strand Tivoli Room of the Metropolitan Centre, 333
- 4th Avenue SW, Calgary, Alberta at 8:30 a.m. (Calgary time) on
December 5, 2011. The notice of meeting and management information
circular, which contains a detailed description of the Arrangement, was
mailed on November 7, 2011 to securityholders of record on October 31,
2011 and is available for review at www.sedar.com. Please refer to the
Initial Announcement for further information regarding the terms and
conditions of the Arrangement and the pro forma entity's business and
Marquee is also pleased to announce the appointment of Glenn Carley to
the board of directors of Marquee. Mr. Carley has been involved in the
oil and natural gas business for the past 33 years. He was a
co-founder of Galleon Energy Inc. (now Guide Exploration Ltd.) and
currently serves on their board of directors. He is a Director of
Painted Pony Petroleum Ltd and previously co-founder, Chairman and
Chief Executive Officer of Magin Energy Inc. and Chairman of Culane
Energy Corp. Mr. Carley will also join the board of the combined
company following the completion of the Arrangement.
Dundee Securities Ltd. is acting as the exclusive financial advisor to
Marquee on the proposed Arrangement, while National Bank Financial Inc.
is acting as an advisor to Marquee on the proposed Arrangement.
Marquee is a Calgary-based emerging junior oil and gas company currently
focused on high netback oil production in southern and east central
Forward Looking Information
Certain information included in this press release constitutes
forward-looking information under applicable securities legislation.
Such forward-looking information is provided for the purpose of
providing information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as making
investment decisions. Forward-looking information typically contains
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this press release may include, but is
not limited to, information with respect to: the timing of the
completion and mailing of the information circular and the timing and
location of the meeting of the securityholders of Marquee; completion
of the Arrangement and the anticipated benefits resulting from the
Arrangement. Forward-looking information is based on a number of
factors and assumptions which have been used to develop such
information but which may prove to be incorrect. Although Marquee
believes that the expectations reflected in such forward-looking
information is reasonable, undue reliance should not be placed on
forward-looking information because Marquee cannot give assurance that
such expectations will prove to be correct. In addition to other
factors and assumptions which may be identified in this press release,
assumptions have been made regarding and are implicit in, among other
things: the ability of Marquee and SkyWest to complete the Arrangement
referred to in this press release and, once completed, to realize the
anticipated benefits of such business combination and other
transactions; the timely receipt of any required regulatory approvals
(including Court and shareholder approvals). Readers are cautioned
that the foregoing list is not exhaustive of all factors and
assumptions which have been used.
Forward-looking information is based on current expectations, estimates
and projections that involve a number of risks and uncertainties which
could cause actual results to differ materially from those anticipated
by Marquee and described in the forward-looking information. The
material risk factors affecting Marquee and its business are contained
in Marquee's Annual Information Form which is available under Marquee's
issuer profile on SEDAR at www.sedar.com.
The forward-looking information contained in this press release is made
as of the date hereof and neither Marquee or SkyWest undertake any
obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, unless required by applicable securities laws. The forward
looking information contained in this press release is expressly
qualified by this cautionary statement.
Neither the 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.
SOURCE Marquee Petroleum Ltd.
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