Canadian Energy Exploration Inc. Announces Lease Term Extensions
14 Marzo 2012 - 12:00PM
PR Newswire (Canada)
CALGARY, March 14, 2012 /CNW/ - Canadian Energy Exploration Inc.
("Canadian Energy", or the "Company") is pleased to announce it has
received certain lease term extensions from the Petroleum Tenure
Branch for the Saskatchewan Ministry of Energy and Resources based
on well licence approvals, wildlife and critical vegetation issues,
and wet weather conditions that will provide the Company with
greater flexibility in allocating capital and discussing future
joint venture possibilities. A summary chart of the Company's lease
expiry dates in the Hardy area is provided below. Canadian Energy
Lands in the HardyArea: Sections Old Expiry New Expiry 20.25
December 31, 2011 August 31, 2012 3.0 December 31, 2011 June 30,
2012 8.0 December 31, 2011 June 30, 2012* (extended by well
licencing) 6.0 March 31, 2014 No Change; Crown sale lands owned
100% 2.75 Undetermined** **Freehold Lands; 1-year expiry once
earned Total = 40 sections owned, earned or under option. * Further
extensions may be available based on similar reasons to those shown
above. The Farmor has been approached to agree to match the
government extensions referred to above which will allow the
Company to retain the option to continue to drill to earn farmout
lands. All lands will expire as per the listed expiry dates except
any terms that are extended by future drilling or production, if
any. Forward Looking Statements: This press release contains
certain statements which constitute forward-looking statements or
information ("forward-looking statements"), including statements
regarding Canadian Energy's business, such as greater flexibility
in allocating capital, drilling new wells, further land extensions
related to the drilling of wells, seeking joint ventures, which by
their nature are forward-looking statements and which are subject
to numerous risks and uncertainties, some of which are beyond
Canadian Energy's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates,
environmental risks, operational risks in exploration and
development, competition from other industry participants, the lack
of availability of qualified personnel or management, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Canadian Energy
believes that the expectations in our forward-looking statements
are reasonable, our forward-looking statements have been based on
factors and assumptions concerning future events which may prove to
be inaccurate. Those factors and assumptions are based upon
currently available information. Such statements are subject
to known and unknown risks, uncertainties and other factors that
could influence actual results or events and cause actual results
or events to differ materially from those stated, anticipated or
implied in the forward looking information. As such, readers
are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results,
levels of activity or achievements. The forward-looking statements
contained in this document are made as of the date of this document
and, except as required by applicable law, Canadian Energy does not
undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement. About Canadian Energy Exploration Inc.
Canadian Energy Exploration Inc. is a junior oil and gas company
engaged in the exploration for and development and production of
natural gas and oil reserves. Canadian Energy has 135,247,235
common shares outstanding. The Company's common shares are listed
to trade on the TSX Venture Exchange under the symbol "XPL".
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. Canadian Energy Exploration Inc. CONTACT:
Canadian Energy Exploration Inc.Larry Buzan, President andChief
Executive OfficerP: (403) 229-2800Email: info@cdnenergy.comWeb
Site: http://www.cdnenergy.com
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