XXL Energy Corp. Announces Acquisitions in the Green River Basin
September 02 2008 - 8:29AM
Marketwired
XXL Energy Corp. (the "Company" or "XXL") (TSX VENTURE: XL)
announced today that it has completed two acquisitions of acreage
(the "Acquisitions") in the Green River Basin of Wyoming. The
Acquisitions were acquired in privately negotiated transactions
from an arm's length publicly traded oil and gas company. Both of
the Acquisitions included acreage that is contiguous to current
acreage of the Company in the Greater Jade Area. Some of the
acreage, in one of the acquisitions, falls within an Area of Mutual
Interest with some of the Company's partners in the Green River
Basin and will be offered to them as part of a previous agreement
with those companies. After offering the acreage to its partners
(and assuming the partners exercise their rights), XXL will have
acquired over 7,000 net acres in the Green River Basin. XXL's
acreage position in the Greater Jade Area will increase from 10,000
net acres to 17,000 net acres and XXL's overall Green River acreage
position will increase from 28,000 net acres to 35,000 net acres.
About XXL Energy Corp.
XXL, headquartered in Houston, is an independent oil and gas
exploration and development company focused in the Greater Green
River Basin of Wyoming, the Columbia River Basin of Washington, the
Piceance Basin of Colorado, the Great Basin of Nevada, and the
Williston Basin of North Dakota.
In the interests of providing Company shareholders and potential
investors with information regarding the Company, including the
Company's assessment of its and its subsidiaries' future plans and
operations, certain statements included in this press release may
constitute forward-looking information or forward-looking
statements (collectively, "forward-looking statements"). All
statements contained herein that are not clearly historical in
nature are forward-looking, and the words "anticipate", "believe",
"expect", "estimate" and similar expressions are generally intended
to identify forward-looking statements. Similarly, forward-looking
statements in this press release include, but are not limited to
anticipated developments of the Company's drilling project in and
the timing thereof, the Company's drilling project in and the
timing thereof, capital investment levels and the allocation
thereof, pipeline capacity, government royalty rates, reserve and
resources estimates, the level of expenditures for compliance with
environmental regulations, site restoration costs including
abandonment and reclamation costs, exploration plans, acquisition
and disposition plans including farmout plans, net cash flows,
geographic expansion and plans for seismic surveys. In addition,
please note that statements relating to "reserves" or "resources"
are deemed to be forward-looking statements, as they involve the
implied assessment, based on certain estimates and assumptions,
that the reserves and resources described can be profitably
produced in the future. Such statements represent the Company's
internal projections, estimates or beliefs concerning, among other
things, an outlook on the estimated amounts and timing of capital
expenditures, anticipated future debt levels and incentive fees or
revenues or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. These statements are only predictions.
Actual events or results may differ materially. Although the
Company believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot guarantee
future results, levels of activity, performance or achievement
since such expectations are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause the Company's actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company
and the foregoing list of important factors is not exhaustive.
These forward-looking statements are made as of the date hereof
disclaims any intent or obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or results or otherwise. Company shareholders and
potential investors should carefully consider the information
contained in the Company's filings with Canadian securities
administrators at www.sedar.com before making investment decisions
with regard to the Company.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: XXL Energy Corp. Victor Barcot EVP of Business
Development and Investor Relations (713) 922-0383 Brisco Capital
Partners Corp. Graeme Dick (403) 313-9663 Email:
graeme@briscocapital.com
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