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Obsidian Energy Announces Termination of Agreement to Dispose of its Interest in the Peace River Oil Partnership
Obsidian Energy Announces Termination of Agreement to Dispose of its Interest in the Peace...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n\n\n\nObsidian Energy Announces Termination of Agreement to Dispose of its Interest in the Peace River Oil Partnership\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Aug. 28, 2019\n\n\n\nCALGARY, Aug. 28, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") announces that the purchase and sale agreement providing for the sale of our 55 percent interest in the Peace River Oil Partnership (the \"Partnership\") to a third party has been terminated.\nIn order for the sale to proceed, the consent to the transfer of our Partnership units and the transfer of operatorship of the Partnership was required, however, the consents for these transfers were not obtained and the agreement was terminated.\nWe intend to pursue all other viable alternatives for the disposition of our interest in the Partnership and continue to focus on our high-quality, light oil Cardium asset.\nForward-Looking Statements \nCertain statements contained in this document constitute forward-looking statements or information (collectively \"forward-looking statements\"). In particular, this document contains forward-looking statements pertaining to, without limitation, our intention to pursue all other viable alternatives for the disposition of our interest in the Partnership and continue to focus on our high-quality, light oil Cardium asset.  With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, our ability to successfully dispose of our interest in the Partnership on acceptable terms.  Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intenti...