CALGARY, June 15 /CNW/ - Synenco Energy Inc. (TSX: SYN) today advised
that Todd Newton, President and Chief Operating Officer, will speak at the
2007 CAPP Oil and Gas Investment Symposium. Mr. Newton will speak on Tuesday,
June 19, 2007 at 4:15 p.m. and Wednesday, June 20, 2007 at 3:50 p.m. (Mountain
Time) at the Hyatt Regency Hotel in Calgary. The presentation will also be
available on www.synenco.com.
About Synenco Energy and Northern Lights
Synenco Energy is a Calgary-based oil sands company which, with a
60-percent interest, is the managing partner of the Northern Lights
Partnership and operator of the Northern Lights oil sands project. Synenco
Energy also holds a 100-percent interest in the McClelland oil sands lease
adjacent to Northern Lights project lands.
The Northern Lights project consists of an oil sands mining and bitumen
extraction project to be established about 100 kilometres northeast of Fort
McMurray, Alberta, and a heavy oil upgrader proposed for Sturgeon County near
Edmonton. Separate regulatory applications for each segment of the project
were filed with the Alberta Energy and Utilities Board and Alberta Environment
during 2006. The independent best estimate of Northern Lights bitumen, based
on all drilling up to and including the 2005/2006 program, is 1.67 billion
barrels of Discovered Resources. In addition, Synenco, on behalf of the NLP,
holds five coal lease applications covering 60,160 hectares in northeastern
SinoCanada Petroleum Corporation, an indirect wholly-owned subsidiary of
China-based Sinopec, owns the remaining 40 percent of the Northern Lights
Partnership and project.
Cautionary statement about forward-looking statements
This media advisory contains "forward-looking statements" relating to
Synenco Energy and NLP which are expressly qualified by this cautionary note.
Estimates of NLP's in-place bitumen "Discovered Resources" are made as of
December 2006 and are forward-looking statements. (The term "Discovered
Resources" is defined in the COGE Handbook and in CSA Staff Notice 51-321.)
Further classification into contingent resources or reserves is not expected
to be possible until a feasibility study has been completed. Resource
estimates are inherently uncertain and are generally considered more uncertain
than estimates of reserves. Future estimates of recoverable resources and
actual recoverable resources will differ and may differ materially from the
estimate of NLP's in-place bitumen Discovered Resources. All other statements
suggesting future plans and outcomes, including without limitation statements
regarding possible transactions are forward-looking statements. Readers are
strongly cautioned that forward-looking statements are inherently uncertain
and based on a number of estimates and assumptions and subject to known and
unknown risks and uncertainties. Undue reliance must not be placed on them.
Actual results will differ and may differ materially. Refer also to the Risk
Factors in Synenco's Annual Information Form dated March 9, 2007.
Forward-looking statements are made as at the date of this news release and
are not guarantees of future performance. Synenco expressly disclaims any
obligation to update publicly or revise any of the forward-looking statements
except as required by law.
For further information:
For further information: Media, Kelli Stevens, Public Affairs
Coordinator, Synenco Energy Inc., Telephone (403) 451-5240,
firstname.lastname@example.org; Investment Community, Idar Eikrem, Executive
Vice-President and Chief Financial Officer, Synenco Energy Inc., Telephone:
(403) 451-4612, email@example.com