Business
Ironhorse Announces Alberta Energy Regulator Approval and Asset Sale
CALGARY , Nov. 4, 2013 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\nCALGARY, Nov. 4, 2013 /CNW/ - Ironhorse Oil & Gas Inc. (\"Ironhorse\" or\n the \"Company\") (TSX-V: IOG) announces the following:\n\n\nIronhorse is pleased to announce that on October 31, 2013, the Alberta\n Energy Regulator (AER) approved Grizzly Resources Ltd.'s Application\n No. 1707770 and Sinopec Daylight Energy Ltd's Applications No.'s\n 1723456, 1723458, 1723460, 1723486, 1723491, 1759037, 1759038, 1759044,\n 1759045 as well as No. 1728964 and No. 1696239. These approvals will\n allow Ironhorse and its partners to drill and produce the 1-8 well\n location in twp 50 rge 6 w5m, as well as commence production from the\n wells at 14-5 and 9-5 twp 50 rge 6 w5m into the battery located at 13-2\n in the same township. Grizzly Resources Ltd., operator  of the 1-8 well\n and Sinopec Daylight, operator of the 13-2 battery site are moving\n immediately  to effect operations to place all wells on production by\n year end 2013 or early first quarter 2014.\n\n\nIn addition to the foregoing, Ironhorse has entered into an Asset\n Purchase and Sale Agreement with a third party private energy company\n to sell its interest in the Leon Lake area of Saskatchewan for proceeds\n of $7.2 million dollars, prior to closing adjustments. Closing is\n scheduled for November 22, 2013. This transaction will leave Ironhorse\n debt free, with cash available to complete its share of the capital\n requirements remaining for the final development and on production\n costs for Pembina.\n\n\nAbout Ironhorse:\n\n\nIronhorse Oil & Gas Inc. is a Calgary-based junior oil and natural gas\n production company trading on the TSX Venture Exchange under the symbol\n \"IOG.\"\n\n\nForward-looking statements:\n\n\nCertain statements in this news release constitute forward-looking\n statements. The forward-looking statements contained in this document\n are based on certain key expectations and assumptions made by\n Ironhorse.  Although Ironhorse believes that the expectations and\n assumptions on which the forward-looking statements are based are\n reasonable, undue reliance should not be placed on the forward-looking\n statements because Ironhorse can give no assurance that they will prove\n to be correct.\n\n\nThe forward-looking statements contained in this document are made\n hereof and Ironhorse undertakes no obligation to up...