SkyWest Energy Corp. Provides Update on Proposed Business Combination and Operational Update
10 Novembre 2011 - 3:00PM
Marketwired
SkyWest Energy Corp. ("SkyWest" or the "Company") (TSX VENTURE:SKW)
is pleased to provide an update to its news release of October 11,
2011 (the "Initial Announcement") announcing the proposed
combination of the businesses of SkyWest Energy Corp. and Marquee
Petroleum Ltd. ("Marquee") (TSX VENTURE:MQE) (the "Arrangement").
Further to the Initial Announcement, the special meeting of SkyWest
security holders to consider the Arrangement and certain related
matters will be held in the Strand Tivoli Room of the Metropolitan
Centre, 333 - 4th Avenue SW, Calgary, Alberta at 10:00 a.m.
(Calgary time) on December 5, 2011. The notice of meeting and
management information circular, which will contain a detailed
description of the Arrangement, was mailed on November 7, 2011 to
security holders of record on November 3, 2011 and is available for
review at www.sedar.com. Please refer to the Initial Announcement
for further information regarding the terms and conditions of the
Arrangement and the pro forma entity's business and management
team.
SkyWest is also pleased to report its recent drilling and
completion results. SkyWest has drilled 5 gross (2.42 net) new
Cardium horizontal wells, 2 gross (1.6 net) in the Carrot Creek
area and 3 gross (0.82 net) in the Willesden Green area in west
central Alberta. (All production rates are reported below on a
gross basis)
Carrot Creek Area
The first well, the 05-08 (100% working interest) has been on
production for 65 days at an average approximate rate of 100 bbl/d
of oil and 8 boepd of gas. The second well, 15-19 (60% working
interest) has been on production for 50 days at an average rate of
approximately 100 bbl/d of oil.
Willesden Green Area
SkyWest has drilled and completed a total of 3 gross (0.82 net)
wells in the Willesden Green area. The first well 16-34 (35.00%
working interest) has been on production for 17 days at an average
rate of 655 boepd (301 bblsd of oil and 354 boepd of gas). Based
off test results of the 16-34 well, the remaining 2 wells look very
promising and they are expected to be tied in and on production by
November 20th, 2011. The 16-34 well has been tied in and the
remaining 2 wells will also be tied into SkyWest's Evening Star
Facility.
SkyWest's current production is 1700 boepd (not including the 2
new latest wells) at Willesden Green).
Information Regarding SkyWest
SkyWest Energy Corp. is a Cardium focused public oil and gas
exploration and Development Company, located in Calgary, Alberta
with operations in Alberta. SkyWest currently trades on the TSX
Venture Exchange (TSXV) under the Symbol "SKW".
Statements herein that are not historical facts may be
considered forward looking statements including management's
assessment of future plans and operations, growth expectations
within the Corporation, expected initial production rates from
certain new wells, timing of completion of wells and of production
additions, expected size of various plays, construction or
expansion of facilities and the timing thereof and expected costs
and the effects thereof, drilling plans and the effects thereof.
These forward-looking statements sometimes include words to the
effect that management believes or expects a stated condition or
result. All estimates and statements that describe the
Corporation's objectives, goals or future plans are forward-looking
statements. Since forward-looking statements address future events
and conditions, by their very nature they involve inherent risks
and uncertainties including, without limitation, risks associated
with the Acquisition, oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of
markets, volatility of commodity prices, currency fluctuations,
imprecision of reserve estimates, environmental risks, competition
from other producers, inability to retain drilling rigs and other
services, failure to realize the anticipated benefits of
acquisitions, delays resulting from or inability to obtain required
regulatory approvals and ability to access sufficient capital from
internal and external sources. As a consequence, SkyWest's actual
results may differ materially from those expressed in, or implied
by, the forward-looking statements.
Forward-looking statements or information are based on a number
of factors and assumptions which have been used to develop such
statements and information but which may prove to be incorrect.
Although SkyWest believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue
reliance should not be placed on forward- looking statements
because SkyWest can give no assurance that such expectations will
prove to be correct. In addition to other factors and assumptions
which may be identified in this document, assumptions have been
made regarding, among other things: the impact of increasing
competition; the ability of SkyWest to obtain equipment and
services in a timely and cost efficient manner; drilling results;
the ability of the operator of the projects which SkyWest has an
interest in to operate the field in a safe, efficient and effective
manner; field production rates and decline rates; the ability to
replace and expand oil and natural gas reserves through
acquisition, development or exploration; the timing and costs of
pipeline, storage and facility construction and expansion; future
oil and natural gas prices; currency, exchange and interest rates;
the regulatory framework regarding royalties, taxes and
environmental matters in the jurisdictions in which SkyWest
operates; and the ability of SkyWest to successfully market its oil
and natural gas products.
Readers are cautioned that the foregoing list of factors and
assumptions is not exhaustive. Additional information on these and
other factors that could effect SkyWest's operations and financial
results are included in reports on file with Canadian securities
regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com). Furthermore, the forward-looking
statements contained in this news release are made as at the date
of this news release and SkyWest 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 may be required by applicable securities
laws.
BOEs
Disclosure provided herein in respect of barrels of oil
equivalent (boe) may be misleading, particularly if used in
isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an
energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the
wellhead.
Contacts: SkyWest Energy Corp. Lawrence Urichuk President &
CEO (403) 265-0071 (403) 265-0073 (FAX) SkyWest Energy Corp. Joel
MacLeod VP Finance and CFO (403) 265-0071 (403) 265-0073 (FAX)
SkyWest Energy Corp. Suite 480, 435 - 4th Ave S.W. Calgary, Alberta
T2P 3A8
Grafico Azioni Skywest Energy Corp (TSXV:SKW)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Skywest Energy Corp (TSXV:SKW)
Storico
Da Lug 2023 a Lug 2024