Hunter Oil Resumes Trading on the TSX-V
Vancouver, British Columbia (Newsfile Corp. - November 14, 2017) - Hunter Oil Corp. (TSXV: HOC) (OTCQX: HOILF) (the 'Company') is pleased to announce that the British Columbia Securities Commission, as principle regulator ('BCSC'), the Alberta Securities Commission and the Ontario Securities Commission have revoked the cease trade order issued on May 5, 2017 (the 'CTO').
In addition, the TSX Venture Exchange (the 'Exchange') has approved the reinstatement of trading of the Company's shares on the Exchange. Trading will resume at the open on Thursday, November 16, 2017.
The CTO was issued for failure to file Annual Financial Statements, Management Discussion and Analysis and related Certifications for the year ended December 31, 2016 (the 'Annual Financials'). The Annual Financials have now been filed and are available for review under the Company's profile at www.sedar.com.
In addition, as a result of a routine review by the BCSC performed in connection with the Company's application for revocation of the CTO, the Company has filed an amended Statement of Reserves Data and Other Oil and Gas Information, and related documents, as of December 31, 2016, on SEDAR. There were no changes to the category or quantity of previously reported reserves.
About Hunter Oil Corp.
Hunter Oil owns and operates two large, historic oil fields in the Permian Basin of Eastern New Mexico - the Milnesand and Chaveroo fields, which together comprise in excess of 23,000 gross acres, substantially held by production. Historical production of these two fields is approximately 40 million barrels. Hunter has engineered a horizontal redevelopment of the San Andres productive zones. The Company plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, lowering operating costs and increasing efficiencies of its operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew HromykPresident and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this news release constitute 'forward-looking information' as such term is used in applicable Canadian securities laws, including statements regarding estimates of reserves and future net revenue, expectations regarding additional reserves and statements regarding Chaveroo and Milnesand wells development, including plans, anticipated results and timing. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.
Forward-looking information regarding Chaveroo and Milnesand well development and expectations regarding additional reserves are based on plans and estimates of management and interpretations of exploration information by the Company's exploration team at the date the information is provided and is subject to several factors and assumptions of management. These assumptions include: that necessary regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes or shortages are encountered, and that the development plans of the Company will not change. Risks include: the risk that anticipated results and estimated costs will not be consistent with managements' expectations, the Company will not be able to obtain and provide the information necessary to secure regulatory approvals required, that unexpected geological results are encountered and that equipment failures, permitting delays or labor or contract disputes or shortages are encountered.
Information on other important economic factors or uncertainties that may affect components of the reserves data and the other statements in this release are contained in the Company's Statement of Reserves Data and Other Oil & Gas Information dated December 31, 2016, and the Company's MD&A under 'Risk Factors', which are available under the Company's profile at www.SEDAR.com.
For further information, visit our website at www.hunteroil.com
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14.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Hunter Oil Corp.
United States ISIN: CA44570P2017 End of News DGAP News Service