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FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW
CALGARY, Feb. 15, 2012 /CNW/ - First Mountain Exploration Ltd. ("First Mountain" or the "Company") (TSX Venture: FMX) announces casing of the first well in the Faust Area.
First Mountain is pleased to announce that it has commenced the previously announced drilling program on the 75.5 sections of land acquired in 2011 in the Faust area of Alberta. The first well of a three well program has been cased and all formations from surface to the Banff formation were evaluated. Management has identified several intervals of interest. Completion and testing operations are scheduled to start within the week. The drilling rig is scheduled to move to First Mountain's second well on the Faust property today.
A Note regarding Forward Looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward looking statements and information concerning: the timing of the testing of the Faust well,the timing of First Mountain's operations and statements with regards to the drilling targets of First Mountain,
The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by First Mountain, including the receipt, in a timely manner, of regulatory and other required approvals and licenses. Although First Mountain believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because First Mountain can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates; failure to obtain the necessary regulatory approval, stock exchange and other regulatory approvals on the timelines planned.. Management has included the above summary of assumptions and risks related to forward looking information provided in this press release in order to provide security holders with a more complete perspective on First Mountain's future operations and such information may not be appropriate for other purposes.
The forward-looking statements and information contained in this press release are made as of the date hereof and First Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
For further information:
President, Chief Executive Officer and Director
First Mountain Exploration Ltd.
Telephone: (403) 453-2266