June 7, 2017 – Vancouver, British Columbia – Canada Energy Partners Inc.’s (TSX-V: CE) (the "Company") application for a stay of the shut-in order has been denied. Had the stay been granted, the Company could have reinitiated the disposal of water while the primary appeal process progressed to a conclusion. The British Columbia Oil & Gas Appeal Tribunal (“OGAT” or “Tribunal”) stated in their decision, “The Tribunal emphasizes that the findings above are made for the limited purpose of deciding the stay application, and have no bearing on the merits of the appeal.”
The Company has submitted it primary appeal documents with OGAT. All responses and rebuttals related to the appeal must be delivered by June 19th, after which the Tribunal will deliberate and render a decision. The Company expects a decision by OGAT sometime in July 2017.
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.
This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management’s reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by law.