May 12, 2017 - Vancouver, British Columbia – The Oil & Gas Appeal Tribunal of British Columbia (the “Tribunal”) has established the timeline for Canada Energy Partners Inc.’s (the "Company") appeal of the order issued by the British Columbia Oil & Gas Commission (“OGC”) on March 16th suspending all disposal activities at the Company’s water disposal well in northeast British Columbia. All submissions related to the appeal must be delivered by June 19th, after which the Tribunal will deliberate and render a decision.
The Company received an order from the OGC (the “Order”) suspending its water disposal permit on March 16, 2017. The Order “shall remain in effect until amended or terminated in whole or in part by the Commission.” The Company immediately ceased disposing and has secured the well. The reasons given by the OGC were concerns over enhanced seismicity alleged to be related to water disposal. The OGC gave no evidence of increased seismicity related to the Company’s disposal well but referenced increased seismicity in other areas of British Columbia. The General Order states that the Company “has met the conditions” stipulated in its disposal permit.
The OGC’s General Order and the Company’s Notice of Appeal can be viewed on the Company’s website: www.canadaenergypartners.com.
On behalf of the Board of Directors of
Canada Energy Partners Inc.
President & CEO
For more information, please contact:-
CANADA ENERGY PARTNERS INC.
650-669 Howe Street
Vancouver, BC V6C 0B4
Main Phone: (778) 725-1489 / Facsimile: (604) 428-1124
Ben Jones, President and CEO
Direct Phone: +1 225.388.9900 ext 101
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This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur, including, without limitation, estimated revenues.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation, regulatory approvals, mechanical integrity of the water disposal well, receptivity of the disposal zone, variability of operating costs, risks associated with oil and gas production and exploration, retention of and ability to attract company personnel, volatility of commodity prices, currency and interest rate fluctuations, environmental risk, inability to access sufficient capital from internal and external sources and changes in legislation, including income tax, environmental and regulatory matters.
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