CALGARY, Oct. 6, 2014 /CNW/ - Montana Exploration Corp. ("MTZ") (TSXV:MTZ) announces that it is acquiring all of the acreage held with its joint venture partner within its area of mutual interest in Montana, which is comprised of approximately 36,000 net acres, for the purchase price of $4 million USD to re-establish MTZ's 100% working interest across its joint venture block. MTZ is pursuing a development drilling program offsetting its recent discovery in the Upper Shaunavon. MTZ's acreage is an extension of the Shaunavon oil pool in Saskatchewan. The acquisition will increase the impact of new development drilling activities on MTZ and enhance the ability of the company to partner on future exploration activities. The acquisition is scheduled to close during October 2014.
Forward Looking Statements
This press release contains statements that constitute "forward-looking information" or "forward-looking" statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should" "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook.
Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Montana and described in the forward-looking information contained in this press release. Undue reliance should not be placed on forward-looking information. The material risk factors include, but are not limited to: failure of Montana to obtain necessary regulatory, stock exchange and other third party approvals; the possibility that government policies or laws may change or governmental approvals may be delayed or withheld; and Montana's ability to implement its business strategy. Readers are cautioned that the foregoing list of risk factors is not exhaustive.
The forward-looking statements and information contained in this press release are also affected by the risk factors, forward-looking statements and assumptions and uncertainties described in Montana's reports on file with applicable securities regulatory authorities and which may be accessed on Montana's each party's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Montana, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking statements contained in this press release are made as of the date of this press release and Montana does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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SOURCE: Montana Exploration Corp.
For further information: For further information on Montana and the Arrangement, please contact: Montana Exploration Corp., Charles Selby, Chairman & Chief Executive Officer, Telephone: (403) 265-9091, Email: [email protected]; Don Foulkes, President, (403) 265-9091, [email protected]