CALGARY, ALBERTA--(Marketwire - Dec. 5, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Further to its press release dated November 30, 2012, Artisan Energy Corporation "AEC" (the "Corporation") is pleased to announce that the common shares resulting from completion of the Corporation's Qualifying Transaction are expected to commence trading on the TSX Venture Exchange on or about December 6, 2012. The Corporation understands the TSX Venture Exchange issued its final exchange bulletin confirming the completion of the Qualifying Transaction and its final approval of the listing on December 5, 2012.
Artisan has a 100% working interest in 21,680 net acres in two core areas in Central and SE Alberta, with an inventory of 70, development focused, drilling locations. Artisan also has varied working interests in an additional 24,036 gross acres (14,731 net acres) of oil and gas properties in Alberta. Artisan's current oil and gas production is approximately 55 barrels of oil equivalent per day, consisting of approximately 73% light oil.
Note Regarding Oil and Gas Disclosures
Barrels of oil equivalents may be misleading, particularly if used in isolation. A barrel of oil equivalent ("boe") conversion ratio of 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
Forward Looking Statements
This news release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable securities laws relating to the expected commencement of trading of the Corporation's common shares. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the listing of the common shares on the TSX Venture Exchange is delayed for any reason. The statements in this press release are made as of the date of this release.
Neither 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.