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Highwood Oil Company Ltd. Provides Notice to Terminate the Peace River Acquisition and Provides Postive Operational Update on Clearwater Drilling Activities
Highwood Oil Company Ltd. Provides Notice to Terminate the Peace River Acquisition and Pro...
About this update from Highwood Asset Management Ltd
[{"type":"text","content":"\n\n\n\nHighwood Oil Company Ltd. Provides Notice to Terminate the Peace River Acquisition and Provides Postive Operational Update on Clearwater Drilling Activities\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Aug. 27, 2019\n\n\n\n/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/\n CALGARY, Aug. 27, 2019 /CNW/ - Highwood Oil Company Ltd. (TSXV:HOCL) (\"Highwood\" or the \"Corporation\") has served notice to the vendor of the Peace River acquisition to terminate the agreement previously announced on May 16, 2019 (the \"Acquisition\"). The notice was issued as the operatorship provision of the Acquisition agreement regarding the operation of the asset had not been satisfied. Highwood will remain focused on evaluating and completing accretive acquisition opportunities in the M&A market.\n\n \n \n\n \nThroughout the second half of 2019, the Corporation will remain focused to delineate, develop and grow its Clearwater properties. Highwood plans to drill an additional five to 10 gross (2.5 to 5.0 net) Clearwater oil wells before year-end. Highwood continues to benefit from substantial industry delineation activity around its existing Clearwater land position, and is encouraged by recent drilling results which have validated an expansion to the prospective fairway. Today, Highwood has re-commenced its drilling program in the Nipisi region of the Clearwater play. \nWarnings\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.  \nThis news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as \"will\", \"may\", \"should\", \"anticipate\", \"expects\" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, stat...