TSX Venture Exchange: PRY
CALGARY, May 16 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the
"Company") is pleased to announce that it has filed on SEDAR its
unaudited consolidated financial statements and related Management's
Discussion and Analysis ("MD&A") for the three month period ended March
31, 2011. The statements are available for review at www.sedar.com or www.pinecrestenergy.com.
On Sunday May 15, 2011, significant wildfires in and around the
Company's producing areas in the greater Slave Lake area have caused
the mandatory evacuation of all of Pinecrest's operations staff at our
Red Earth core area. Prior to and during the mandatory evacuation
Pinecrest field operators were able to shut in all of the Company's Red
Earth production for precautionary reasons.
These wildfires have resulted in the temporary suspension of production,
drilling and completions activity in the area. Activity will resume
once access roads and sites are deemed safe for crews to restore
Additionally, Pinecrest has been impacted by the Plains Midstream Canada
Rainbow Pipeline disruption. The Company has been intermittently using
alternative trucking solutions to transport its crude oil. As a result
of the wildfires and the mandatory evacuation, the Company has
suspended these operations.
Pinecrest is continuously monitoring the situation and will provide
additional information as it becomes available.
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 Pinecrest Energy Inc.
For further information:
Pinecrest Energy Inc.
Suite 500, 255 - 5th Avenue S.W.
Calgary, Alberta T2P 3G6
Wade Becker, President and CEO
Dan Toews, V.P. Finance & CFO
Tel: (403) 817-2550 or