CALGARY, ALBERTA--(Marketwire - Sept. 24, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Azabache Energy Inc. ("Azabache" or the "Company") (TSX VENTURE:AZA) announces that its Board of Directors has formalized a process to identify, examine and consider strategic options for the Corporation with the view to enhancing shareholder value.
The Company is an oil and gas exploration and production company listed on the TSX Venture Exchange with properties in Argentina and Colombia including approximately 161,211.64 gross acres in two blocks over the Vaca Muerta shale play in Argentina. This acreage is one of the largest independently owned positions in this highly regarded new shale play."
The Company has engaged Toll Cross Securities Inc. ("Toll Cross") to act as financial advisor to the Board. Toll Cross will assist in the process of analyzing and evaluating options for the Company.
The Company has not set a timetable for the completion of the review process and it does not intend to comment further regarding the review process unless a specific transaction is approved by the Board of Directors, the review process is concluded, or it is otherwise determined that further disclosure is necessary.
This press release contains forward-looking statements. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Azabache. Although Azabache 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 Azabache 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. The forward-looking statements contained in this document are made as of the date hereof and Azabache 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 that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.