Vecta Energy Corporation- Bakken Update
CALGARY, ALBERTA -- (Marketwire) -- 08/30/11 -- Vecta Energy Corporation (TSX VENTURE:VER) ("Vecta" or the "Company") regrets to advise that negotiations with Vecta Oil & Gas, Ltd. ("VOG") for participation in the Montana joint venture have failed to reach a positive conclusion and the Joint Venture Agreement dated March 8, 2011 will be allowed to expire on August 31, 2011.
The Directors of Vecta will be meeting later this week to discuss alternative strategies for the future of the Company.
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This news release contains forward-looking statements relating to the Company's plans and other aspects of the Company's anticipated future operations, strategies, financial and operating results and business opportunities. Forward-looking statements typically use words such as "anticipate", "believe", "project", "expect", "plan", "intent" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, or consists of statements regarding estimates of future production, operating costs or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Statements regarding reserves are also forward-looking statements, as they reflect estimates as to the expectation that the deposits can be economically exploited in the future.
Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not unduly rely on forward-looking statements. The forward-looking statements contained in this news release are made as the date of this news release and the Company 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.