CALGARY, ALBERTA–(Marketwired – Nov. 30, 2015) – Petrocapita Income Trust (CSE:PCE.UN) (“Petrocapita” or the “Trust”) is pleased to announce its financial and operating results for the three months and nine months ended September 30, 2015. These filings will be available at www.sedar.com and the Canadian Securities Exchange website.
Petrocapita Income Trust is an investment trust developing and acquiring heavy oil production and infrastructure assets in the Lloydminster area of east central Alberta and west central Saskatchewan through its wholly owned subsidiary, Petrocapita Oil and Gas LP. It owns and operates 153 gross (144.6 net) oil wells, 9 produced water disposal facilities, a central oil processing facility, fluid haul trailers, motor graders and well site processing equipment. It is seeking accretive opportunities to acquire both oil production and complimentary midstream assets during a cyclical low in the oil markets.
Advisory on Forward-looking Statements
Certain statements and information contained in these statements constitute forward-looking statements and forward-looking information as defined under applicable securities legislation (collectively, “forward-looking statements”). These forward-looking statements relate to future events or Petrocapita’s future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “contemplate”, “continue”, “estimate”, “expect”, “intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should”, “could”, “would”, “believe”, “predict”, “forecast”, “pursue”, “potential” and “capable” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this prospectus should not be unduly relied upon. These statements speak only as of the date of the statements. In addition, these statements may contain forward-looking statements attributed to third party industry sources.
In particular, forward-looking statements contained in this document include, but are not limited to statements with respect to the performance characteristics of the Trust’s heavy oil properties; supply and demand for oil, financial and business prospects and financial outlook; results of drilling and testing, results of operations; drilling plans; activities to be undertaken in various areas; timing of drilling and completion; and planned capital expenditures and the timing thereof.
These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to the impact of general economic conditions in Canada and industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced; competition; lack of obtaining required approvals of regulatory authorities; volatility in market prices for oil; fluctuations in foreign currency and interest rates; environmental risks; changes in income tax laws and incentive programs relating to the oil industry; ability to access sufficient capital from internal and external sources; the risks that any estimate of potential net oil pay is not based upon an estimate prepared or audited by an independent reserves evaluator; that there is no certainty that any portion of the hydrocarbon resources will be discovered, or if discovered that it will be commercially viable to produce any portion thereof; and other factors, many of which are beyond the control of the Trust. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Petrocapita’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may accessed through the SEDAR website (www.sedar.com).
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and as such, undue reliance should not be placed on forward-looking statements. Readers are also cautioned that the foregoing list of factors and assumptions is not exhaustive. The Trust does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws