VANCOUVER, BRITISH COLUMBIA - Canada Energy Partners (the “Company”) is pleased to announce that it has arranged for a two year satisfaction of a $1.6 million plug and abandonment bond commitment to the BC Oil and Gas Commission and secured financing for two years, by way of a third party credit facility, of all lease property taxes and surface and subsurface rental obligations in exchange for granting a 12 month first-right-of-refusal on the Company’s Montney assets. In addition Canada Energy has committed to sell certain dormant assets for $210,000. Closing is expected to occur on or before January 31, 2013. Canada Energy currently has no debt.
On behalf of the Board of Directors of
Canada Energy Partners Inc.
For more information, please contact:-
CANADA ENERGY PARTNERS INC.
1680-200 Burrard St.
Vancouver, BC V6C 3L6
Main Phone: (604) 909-1154 / Facsimile: (604) 488-0319
Attention: John Proust, Chairman
Direct Phone: (604) 696-9020
Attention: Ben Jones, President and CEO
Direct Phone: (225) 388-9900
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