CALGARY, April 13 /CNW/ - Reece Energy Exploration Corp. (TSX-V/RXR)
("Reece") is pleased to announce that the information circular and proxy
statement (the "Information Circular") with respect to the previously
announced acquisition by Penn West Energy Trust of all of the outstanding
shares of Reece was mailed on April 9, 2009 to Reece shareholders of record on
March 31, 2009. The acquisition will be effected by way of a plan of
arrangement (the "Arrangement"). The Information Circular contains a detailed
description of the Arrangement and is available on SEDAR (www.sedar.com) as
well as on Reece's website (www.reeceenergy.com). The special meeting (the
"Meeting") of the shareholders ("Reece Shareholders") of Reece called to vote
on the Arrangement will be held on Thursday, April 30, 2009 at 10:00 a.m.
(Calgary time). The Meeting will be held in the Viking Room at the Calgary
Petroleum Club, 319 - 5th Avenue SW, Calgary, Alberta.
The Arrangement is expected to be completed on or about April 30, 2009.
Completion of the Arrangement is subject to, among other conditions, the
approval of the Court of Queen's Bench of Alberta, receipt of all necessary
regulatory approvals, and the approval by at least 66 2/3% of the votes cast
by Reece Shareholders in person or by proxy at the Meeting.
The board of directors of Reece has unanimously determined that the
Arrangement is in the best interests of Reece and Reece Shareholders, is fair
to Reece Shareholders, and recommends that Reece Shareholders vote in favour
of the Arrangement. Reece Shareholders are encouraged to vote in person or by
proxy at the Meeting.
Reece is a publicly held oil and gas company headquartered in Medicine
Hat, Alberta, Canada that trades on the TSX Venture Exchange under the symbol
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Certain statements in this news release including (i) statements that may
contain words such as "anticipate", "could", "expect", "seek", "may",
"intend", "will", "believe", "should", "project", "forecast", "plan" and
similar expressions, including the negatives thereof, (ii) statements that are
based on current expectations and estimates about the markets in which Reece
operates and (iii) statements of belief, intentions and expectations about
developments, results and events that will or may occur in the future,
constitute "forward-looking statements" and are based on certain assumptions
and analysis made by Reece. Forward-looking statements in this news release
include, but are not limited to, statements with respect to future capital
expenditures, including the amount, nature and timing thereof; oil and natural
gas prices and demand; other development trends within the oil and natural gas
industry; business strategy; expansion and growth of Reece's business and
operations and other such matters. Such forward-looking statements are subject
to important risks and uncertainties, which are difficult to predict and that
may affect Reece's operations, including, but are not limited to: the impact
of general economic conditions; industry conditions; government and regulatory
developments; oil and natural gas product supply and demand; competition; and
Reece's ability to attract and retain qualified personnel. Reece's actual
results, performance or achievements could differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do
transpire or occur, what benefits Reece will derive therefrom. Subject to
applicable law, Reece disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
All forward-looking statements contained in this document are expressly
qualified by this cautionary statement. Further information about the factors
affecting forward-looking statements is available in Reece's current Annual
Report which has been filed with Canadian provincial securities commissions
and is available on www.sedar.com.
For further information:
For further information: Lorne Swalm, President & C.E.O., Reece Energy
Exploration Corp., Phone: (403) 526-9700, email@example.com,