CALGARY, ALBERTA--(Marketwire - Feb. 13, 2013) -
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Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce that it has been included in the 2013 TSX Venture 50®, a ranking of strong performing companies listed on the TSX Venture Exchange.
The TSX Venture 50® is the exchange's annual list of the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors: Oil and Gas, Mining, Technology & Life Sciences, Diversified Industries and Clean Technology. The 2013 TSX Venture Top 50® companies were chosen based on a ranking formula given to share price appreciation, trading volume, market capitalization growth and analyst coverage, as of December 31, 2012.
"Manitok is very pleased to be included in the TSX Venture Top 50®," said Massimo Geremia, President and CEO of Manitok. "Our top 10 ranking in the oil and gas sector is a reflection of the tremendous effort made by the entire Manitok team to deliver top tier results to its shareholders."
According to statistics compiled by the TSX Venture Exchange, in 2012 Manitok experienced an 84% growth in share price and a 111% growth in market capitalization to rank 7th in the oil and gas sector.
Manitok will be recognized by the TSX Venture Exchange in an award ceremony in early April 2013 to honour this year's Top 50 companies.
Manitok is a public oil and gas exploration and development company focusing on conventional oil and gas reservoirs in the Canadian foothills. Manitok's corporate strategy is that of being an "early mover" in the exploitation phase of the development life cycle of hydrocarbon reserves in the Canadian foothills. The Corporation will continue to utilize its experience and expertise to develop the untapped conventional sweet oil and liquids-rich natural gas pools in this large and under-exploited region of the Western Canadian Sedimentary Basin.