CALGARY, April 20, 2015 /PRNewswire/ - Spyglass
Resources Corp. ("Spyglass", or the "Company") (TSX: SGL,
OTCQX: SGLRF) will hold its Annual Meeting of Shareholders on
Wednesday, May 13, 2015 at
2:00 p.m. MT (4:00 p.m. ET) at the Jamieson Place Conference
Centre, Jamieson Place,
3rd Floor, 240 – 4th Avenue S.W.,
Calgary, Alberta.
A live webcast of the presentation can be accessed on Spyglass'
website at www.spyglassresources.com, or by following the below
link:
http://event.on24.com/r.htm?e=974127&s=1&k=9F6ED0751F708F844417847ED653BEFB.
Reader Advisory and Note Regarding Forward Looking
Information
Certain statements contained within this press release, and in
certain documents incorporated by reference into this document
constitute forward looking statements. These statements
relate to future events or future performance. All statements,
other than statements of historical fact, may be forward looking
statements. Forward looking statements are often, but not
always, identified by the use of words such as "seek",
"anticipate", "budget", "plan", "continue", "estimate", "expect",
"forecast", "may", "will", "project", "predict", "potential",
"targeting", "intend", "could", "might", "should", "believe" and
similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward looking statements.
In particular, this press release contains the following forward
looking statements pertaining to, without limitation, the
following: Spyglass' (i) future production volumes and the timing
of when additional production volumes will come on stream;
Spyglass' (ii) realized price of commodities in relation to
reference prices; (iii) future commodity mix; (iv) future commodity
prices; (v) expectations regarding future royalty rates and the
realization of royalty incentives; (vi) expectation of future
operating costs on a per unit basis; (vii) the relationship of
Spyglass' interest expense and the Bank of Canada interest rates; (viii) future general
and administrative expenses; future development and exploration
activities and the timing thereof; (ix) deferred tax liability; *
estimated future contractual obligations; (xi) future liquidity and
financial capacity of the Company; (xii) ability to raise capital
and to add to reserves through exploration and development; (xiii)
ability to obtain equipment in a timely manner to carry out
exploration and development activities; (xiv) ability to obtain
financing on acceptable terms, and (xv) ability to fund working
capital and forecasted capital expenditures. In addition,
statements relating to "reserves" or "resources" are deemed to be
forward looking statements, as they involve assessments based on
certain estimates and assumptions that the resources and reserves
described can be profitably produced in the future.
We believe the expectations reflected in the forward looking
statements are reasonable but no assurance can be given that our
expectations will prove to be correct and consequently, such
forward looking statements included in, or incorporated by
reference into, this press release should not be unduly relied
upon. These statements speak only as of the date of this
press release or as of the date specified in the documents
incorporated by reference in this press release. The actual
results could differ materially from those anticipated as a result
of the risk factors set forth below and elsewhere in this press
release which include: (i) volatility in market prices for oil and
natural gas; (ii) counterparty credit risk; (iii) access to
capital; (iv) changes or fluctuations in production levels; (v)
liabilities inherent in oil and natural gas operations; (vi)
uncertainties associated with estimating oil and natural gas
reserves; (vii) competition for, among other things, capital,
acquisitions of reserves, undeveloped lands and skilled personnel;
(viii) stock market volatility and market valuation of Spyglass'
stock; (ix) geological, technical, drilling and processing
capabilities; * limitations on insurance; (xi) changes in
environmental or legislation applicable to our operations, (xii)
our ability to comply with current and future environmental and
other laws; (xiii) changes in tax laws and incentive programs
relating to the oil and gas industry, and (xiv) the other factors
discussed under "Risk Factors" in the Company's 2014 Annual
Information Form.
Readers are cautioned that the foregoing lists of factors are
not exhaustive. The forward looking statements contained in
this press release and the documents incorporated by reference
herein are expressly qualified by this cautionary statement.
The forward looking statements contained in this press release
speak only as of the date thereof and Spyglass does not assume any
obligation to publicly update or revise them to reflect new events
or circumstances, except as may be required pursuant to applicable
securities laws.
Barrel of oil equivalents or BOEs may be misleading,
particularly if used in isolation. A 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. As the value ratio between natural gas
and crude oil based on the current prices of natural gas and crude
oil is significantly different from the energy equivalency of 6:1,
utilizing a conversion on a 6:1 basis may be misleading as an
indication of value.
This press release shall not constitute an offer to sell, nor
the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale
of securities mentioned in this press release in any State in
the United States in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities law of any such State.
SOURCE Spyglass Resources