CALGARY, March 12, 2012 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that Standard and Poor's (S&P) has added Whitecap to the S&P/TSX Composite Index as a result of the Quarterly S&P/TSX Composite Index Review. Whitecap's inclusion in the index is effective with the opening of trading on March 19, 2012.
Listed securities eligible for inclusion in the index must meet certain criteria which are primarily based on a company's market capitalization and the liquidity of its stock relative to other stocks in the index and Whitecap has met all of the criteria.
The inclusion highlights the tremendous growth and progress achieved by Whitecap in a very short period of time. We look forward to the positive impact this may have on our stock and greater visibility in the investment community.
The S&P/TSX Composite Index is the headline index in Canada and premier indicator of performance for Canadian equity markets.
Whitecap Resources Inc. is focused on the acquisition, development, optimization and production of crude oil in Western Canada. We have an enviable suite of oil-weighted, long reserve life assets with significant un-booked upside and development well inventory in addition to a strong balance sheet.
Note Regarding Forward-Looking Statements and Other Advisories
This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to Whitecap's plans and other aspects of Whitecap's anticipated future operations. In addition, and without limiting the generality of the foregoing, this press release contains forward-looking information regarding the expected impact of the inclusion of Whitecap into the index including a positive impact on and increased demand for Whitecap shares and greater visibility in the investment community. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future.
The forward-looking information is based on certain key expectations and assumptions made by Whitecap's management, including expectations and assumptions concerning the S&P/TSX Composite Index and the benefits to be obtained as a result of being included in the index. Although Whitecap believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Whitecap can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Whitecap's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Whitecap will derive therefrom.
These forward-looking statements are made as of the date of this press release and Whitecap disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
For further information:
Grant Fagerheim, President & CEO
Thanh Kang, VP Finance and CFO
Whitecap Resources Inc.
500, 222 - 3 Avenue SW
Calgary, AB, T2P 0B4
Main Phone (403) 266-0767
Fax (403) 266-6975