CALGARY, May 6, 2013 /CNW/ - Birch Lake Energy Inc. ("Birch Lake" or the "Company") (TSXV: BLK) announced today that it has filed a statement of defence
and counterclaim relating to the claim filed by Bernum Petroleum Ltd.,
as previously announced on March 26, 2013. The claim relates to the
Company's Lochend Assets, being the non-operated working interest of
40% in certain petroleum and natural gas rights underlying 6,560 gross
acres (2,560 net) in the Lochend-Bearspaw area of Alberta.
As set out in the statement of defence, Birch Lake denies that it is
indebted to Bernum and that Bernum is entitled to the relief that is
has requested. Birch Lake claims that Bernum was, among other things,
in breach of the applicable agreement with respect to the drilling and
completion operations on the two subject wells. This caused loss and
damages to Birch Lake including the forfeiture of the Company's working
interest in certain lands that were held by drilling. In addition,
Birch Lake claims that Bernum has breached the AMI agreement, prompting
the loss of Birch Lake's working interest in certain other AMI lands,
causing consequential damage and loss to the Company.
Pursuant to the counterclaim, Birch Lake is seeking damages for reduced
production and production revenues, improperly seized petroleum
substances and improperly withheld information on the initial well and
for loss of participation on the second well. Birch Lake is also
seeking damages for the loss of the Company's working interest in the
lands held by the second well and other AMI lands.
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: Birch Lake Capital Inc.
For further information:
Birch Lake Energy Inc.
William H. Petrie
President and Chief Executive Officer