CALGARY, AB--(Marketwired - February 28, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQX) announces that the following matters were approved by the Company's shareholders at its Annual General Meeting held February 28, 2017 in Calgary, Alberta.
The shareholders elected the full slate of directors including Messrs., Dr. William J.F. Roach, Adrian H. Goodisman, Stephen J. Griggs., Paul Moase, Leonard Sokolow, Richard Thompson and Robert J. Waters.
The shareholders also approved the following:
- Fixing the Number of Directors at 7; and
- The appointment of KPMG LLP as auditors of Marquee.
At the end of the meeting, Mr. Richard Thompson, President & CEO provided a short presentation on the Company's operations. The presentation is available on Marquee's website at www.marquee-energy.com.
The Company is also pleased to advise that it has achieved a strong operational start to 2017 with drilling finished on its planned three well Q1 2017 Michichi drilling program. The program is on schedule, and Marquee expects to have all three wells completed and on production by the end of March 2017. The wells, which are offsetting existing Marquee Banff horizontal well production, were drilled from a single pad location to maximize cost efficiencies.
Marquee is a Calgary based, junior energy company focused on high rate of return light oil development and production. Marquee is committed to growing the company through exploitation of existing opportunities and continued consolidation within its core area at Michichi. Marquee's shares trade on the TSX Venture Exchange under the trading symbol "MQX". Additional information about Marquee may be found on its website www.marquee-energy.com and in its continuous disclosure documents filed with Canadian securities regulators on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
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 release.
FORWARD-LOOKING STATEMENTS AND CAUTIONARY STATEMENTS
This press release contains forward-looking statements. Such forward-looking statements typically contain statements with words such as "anticipate", "expect", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Marquee, all or any of which may prove incorrect, including without limitation the remaining forward-looking statements, expectations and assumptions concerning the timing and success of future drilling and development activities.
Although Marquee believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Marquee can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to complete the proposed wells in a timely manner, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety and environmental risks), uncertainty as to the availability of labour and services, commodity price and exchange rate fluctuations, unexpected adverse weather conditions and changes to existing laws and regulations. Certain of these risks are set out in more detail in Marquee's current Annual Information Form, which is available on Marquee's profile SEDAR at www.sedar.com.
Forward-looking information is based on estimates and opinions of management of Marquee at the time the information is presented. Marquee may, as considered necessary in the circumstances, update or revise such forward-looking information, whether as a result of new information, future events or otherwise, but Marquee undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.