/NOT FOR DISTRIBUTION TO
The joint-use of technical expertise and resources will have a near-term impact of reducing specific consulting costs, where currently each company must retain professionals to fill gaps in its team's technical ability to effectively evaluate acquisitions and conduct operations, without incurring costs to the respective corporation. The initial term of the alliance shall be for 12 months, but can be terminated at any time by either company giving written notice to the other.
Jasper's technical strengths include a management team with more than 100 years of combined experience in financing and operating oil and gas properties, with a particular emphasis in highly structured plays in western
Argo's strengths include a management team who has founded multiple junior resource companies, transacted on dozens of mineral projects, and raised over
Forward-looking statements in this news release include statements regarding the anticipated near term impact of the joint-use of Argo's and Jasper's technical abilities; the companies' interest in pursuing oil and gas exploration activities; and other similar statements. Such statements address future events and conditions and by their very nature they involve inherent risks and uncertainties.
Forward looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although Jasper believes that the expectations reflected in such forward looking statements or information are reasonable, undue reliance should not be placed on forward looking statements because Jasper can give no assurance that such expectations will prove to be correct.
Furthermore, the forward looking statements contained in this news release are made as at the date of this news release and Jasper does not undertake any obligation to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither the
The term "BOE" or barrels of oil equivalent may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
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