VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2012) - Arctic Hunter Energy Inc. (TSX VENTURE:AHU) (the "Company") is pleased to announce that the Company has appointed Ray Lee to the Board of Directors. The following persons are currently serving on the Board of Directors: Tim Coupland, President & CEO, Robert Hall, Edward Burylo, Dave Finn and Ray Lee.
RAY LEE, P.L. Eng
Mr. Lee has thirty years of experience of oil and gas experience, most recently as President & CEO of a private junior energy and petroleum Company. Mr. Lee has held senior positions in exploitation, production and operations engineering for natural gas and both conventional and heavy oil with a number of major and junior oil and gas companies. These companies include Compton Petroleum, Northstar Energy, Devon Energy Corp., Amoco Canada Petroleum Company Ltd., Dome Petroleum Ltd. and Hudson's Bay Oil & Gas Company Ltd. Mr. Lee is also a Professional Licensed Engineer with APEGGA.
Mr. Coupland stated, "I am very pleased that Ray Lee has agreed to join the Board and augment the current Board of Directors and implement its strategy that will assist moving the Company forward rapidly in acquiring strategic oil and gas assets. The Company continues to maintain a strong balance sheet with no debt and has daily heavy oil production revenue from its properties in Saskatchewan."
ABOUT ARCTIC HUNTER
The Company is Canadian Oil & Gas resource exploration and development Company that is involved in the acquisition, exploration and development of oil and gas properties in Western Canada and in North America. The Company is an Alberta based junior heavy oil producer that is focusing on growing its production base, and is maximizing future production through its exploration drilling activities, production acquisitions and strategic asset acquisitions both domestically and internationally. The Company maintains a strong balance sheet and has a qualified management team in field exploration, drilling and has the necessary manpower required to develop, its natural resource and production properties.
Certain information in this Press Release is forward-looking within the meaning of certain securities legislation, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's and TSX Venture Exchange final approval of the Rights Plan. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this Press Release describes the Company's expectations as of the date of this Press Release.
Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, commodity price and exchange rate fluctuations; reliance on contractual rights such as licenses and leases in the conduct of its business, reliance on third parties, reliance on key personnel, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, competition, environmental matters, and insurance or lack thereof and the other factors described under "Risk Factors" in the Company's annual reports and Form 20-F available in Canada at www.sedar.com, as well as on file with the U.S. Securities and Exchange Commission. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The Company cautions that the foregoing list of material factors is not exhaustive, is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.