CALGARY, ALBERTA — (Marketwire) — 09/25/12 — Donnycreek Energy Inc. (“Donnycreek” or the “Company”) (TSX VENTURE: DCK) reports that pursuant to the purchase and sale agreement with Deventa Land Corp. (“Deventa”) announced on September 19, 2012, Donnycreek will acquire an additional 36 gross (22.5 net) sections (14,368 net acres) of undeveloped Montney lands in the Deep Basin area of West Central Alberta which were acquired by Deventa at the most recent Alberta Crown land sale. Upon completion of the previously announced acquisition by the Company of approximately 93 total net sections (59,600 net acres) of Montney lands, and the acquisition of such additional undeveloped Montney lands (the “Acquisitions”), the Company will hold working interests in approximately 188.5 gross (127 net) sections (81,008 net acres) of Montney lands. The Acquisitions are expected to close on or about October 15, 2012.
Donnycreek is a Calgary-based oil and natural gas production company focused on horizontal, multi-stage frac development in the Deep Basin area of west central Alberta.
Further information relating to Donnycreek is also available on its website at .
ON BEHALF OF THE BOARD OF DONNYCREEK ENERGY INC.
Malcolm F.W. Todd, Chief Executive Officer
FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains forward-looking statements or information (“forward-looking statements”), including statements concerning the expected timing of the closing of the Acquisitions.
The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Donnycreek, including with respect to the closing date of the Acquisitions, expectations and assumptions concerning timing of receipt of required regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the Acquisitions.
By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Donnycreek–s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Donnycreek believes that the expectations in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our management–s discussion and analysis and other documents available at . Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Donnycreek does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
NEITHER THE 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 NEWS RELEASE.
Contacts:
Donnycreek Energy Inc.
Malcolm Todd
President and Chief Executive Officer
(604) 684-2356
(604) 684-4265 (FAX)