Vecta Energy Corporation Granted Extension on Exshaw/Bakken Transaction
CALGARY, ALBERTA -- (Marketwire) -- 07/29/11 -- Vecta Energy Corporation (TSX VENTURE:VER) ("Vecta" or the "Company") is pleased to announce an exclusive extension to the closing date of the proposed Exshaw/Bakken transaction with Vecta Oil & Gas Ltd., ("VOG") to August 15, 2011.
Under the terms of the Joint Venture Agreement dated March 8, 2011, Vecta will participate with VOG in an Exshaw/Bakken light oil resource play on over 120,000 net acres of lands in north central Montana. The closing date of the transaction was initially set for April 8, 2011, and was then extended by VOG to July 31, 2011.
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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.
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Vecta Energy Corporation
Thomas D. Coffman
Vecta Energy Corporation
Diane M. Zuber
Vice President Finance & CFO