Plate Resources Announces Production Results of its Cardium Well in East Pembina
May 22, 2014 (Source: Accesswire) — Plate Resources Inc. (TSXV: PLR) (the “Company” or “Plate”) is pleased to announce that its 1-30-46-1W5M well in East Pembina, Alberta, produced an average of 219 barrels of oil equivalent per day gross (94% oil) over a 7 day period since the well was placed on pump. Plate owns a 50% working interest in the well and is looking forward to drilling additional wells on the earned land.
ABOUT PLATE RESOURCES:
The Company is a junior resource company focused on acquiring, exploring and developing oil and gas and mineral properties. The Company’s assets include a Cardium oil and gas property in Alberta and a mineral property in south-central British Columbia. For more information, please refer to the Company’s information on SEDAR (www.sedar.com).
ON BEHALF OF THE BOARD OF DIRECTORS
Marc Melnic, CEO and Director
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
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