Seven Generations Energy Ltd. acquires 56 sections of additional Montney lands
21 Jun, 2013, 16:10 ET
CALGARY, June 21, 2013 /CNW/ - Seven Generations Energy Ltd. (the "Company") is pleased to announce that it has, by several separate transactions this month, acquired 56 square miles of rights in the Montney (and other) formations in the Grande Prairie region of west central Alberta. The land will extend the Company's Kakwa River Project and brings the net land holdings of the Company (all in the Kakwa River Project area) to approximately 357 sections, including approximately 331 sections of mineral rights in the Montney formation. While proximal to the Company's gathering and processing infrastructure, the new sections are not contiguous with the Company's previously held and now partially delineated holdings. These sections form a new, sparsely delineated prospective area that the Company hopes to test within the next 18 months.
Founded in 2008, Seven Generations Energy Ltd. is a private oil and gas developer based in Calgary, Alberta. The Company is engaged in the delineation and development of its Kakwa River Project, a multi-zone, tight, rich gas project in the Alberta Deep Basin, approximately 100 km south of Grand Prairie, Alberta.
This press release may contain forward-looking information and statements regarding the Company. Any statements included in this press release that address activities, events or developments that the Company "expects," "believes," "plans," "projects," "estimates" or "anticipates" will or may occur in the future are forward-looking statements. Actual results may differ materially due to a variety of important factors. Among other items, such factors might include: planned and unplanned capital expenditures; changes in general economic conditions; uncertainties in reserve, resource and production estimates; unanticipated recovery or production problems; weather-related interference with business operations; the effects of delays in completion of, or shut-ins of, gas and liquids gathering systems, pipelines and processing facilities; potential costs associated with complying with new or modified regulations; oil and natural gas prices and competition; the impact of derivative positions; production expense estimates; cash flow and cash flow estimates; drilling and operating risks; our ability to replace oil and gas reserves; volatility in the financial and credit markets or in oil and natural gas prices. Except as required by law, the Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change. Do not place undue reliance on forward-looking information.
SOURCE: Seven Generations Energy Ltd.
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