CALGARY, April 27, 2012 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR) is pleased to provide a working capital update, announce the filing of its Annual Information Form and provide an updated corporate presentation.
Working Capital Update
The Company's working capital deficiency, including bank debt and excluding the mark to market on commodity contracts, was approximately $34 million at the end of the first quarter 2012 and is currently approximately $32 million. The Company's credit facility with Alberta Treasury Branches ("ATB") has a limit of $42 million.
Annual Information Form
The Company's Annual Information Form will be filed on SEDAR (www.sedar.com) and is currently available on the Company's website:
The Annual Information Form includes the Company's reserves and resource data for the period ended December 31, 2011 as evaluated by AJM Deloitte and other oil and natural gas information prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.
Yangarra has also previously filed its audited financial statements and accompanying notes for the year ended December 31, 2011 and related Management Discussion and Analysis with Canadian Securities Regulatory Authorities. Copies of Yangarra disclosure documents may be obtained at www.sedar.com or on the Company's website:
An updated version of Yangarra's corporate presentation is available on the Company's website:
Annual General Meeting
The Company's Annual General Meeting of Shareholders is scheduled for 10:00 AM on Thursday May 24, 2012 in the Plaza Room - Metropolitan Centre, 333-4th Avenue SW, Calgary, AB.
Certain information regarding Yangarra set forth in this news release, including management's assessment of future plans, operations and operational results may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserves estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
All reference to $ (funds) are in Canadian dollars.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
For further information:
please contact James Evaskevich, President and CEO at (403) 262-9558.