VANCOUVER, May 1, 2018 /CNW/ - Hunter Oil Corp. (TSX-V: HOC;
OTCQX: HOILF) (the "Company") announces the results of its
annual general and special meeting of shareholders (the "AGM") held
in Vancouver, British Columbia on
April 27, 2018.
Name of
Director
|
Voted
For
|
Withheld
Vote
|
Number of
Shares
|
%
|
Number of
Shares
|
%
|
Andrew
Hromyk
|
3,917,504
|
83.11
|
795,979
|
16.89
|
Al Denson
|
3,918,825
|
83.14
|
794,658
|
16.86
|
Konstantino
Ghertsos
|
3,919,868
|
83.16
|
793,615
|
16.84
|
Srinivas
Polishetty
|
3,919,842
|
83.16
|
793,541
|
16.84
|
Mark
Strawn
|
3,920,055
|
83.17
|
793,428
|
16.83
|
The Company's shareholders voted to pass ordinary resolutions
approving the following matters:
1)
|
The appointment of
Dale Matheson Carr-Hilton Labonte LLP, as the Company's auditor and
authorizing the directors to fix the remuneration of the
auditor.
|
2)
|
Ratification and
approval renewal of the Company's 10% "rolling" Stock Option
Plan.
|
About Hunter Oil Corp.
Hunter Oil owns and operates two large, historic oil fields in
the Permian Basin of Eastern New
Mexico - the Milnesand and
Chaveroo fields, which together comprise in excess of 23,000 gross
acres, substantially held by production. Historical production of
these two fields is approximately 40 million barrels. Hunter has
engineered a horizontal redevelopment of the San Andres productive
zones. The Company plans to unlock the value in these resource-rich
fields by leveraging existing infrastructure, lowering operating
costs and increasing efficiencies of its operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew
Hromyk
President and CEO
+1 (604)
689-3355
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE
Cautionary Statement Regarding Forward-Looking
Information
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including statements regarding estimates
of reserves and future net revenue, expectations regarding
additional reserves and statements regarding Chaveroo and
Milnesand wells development,
including plans, anticipated results and timing.
Forward-looking information is subject to a variety of risks
and uncertainties and other factors that could cause plans,
estimates and actual results to vary materially from those
projected in such forward-looking
information.
Forward-looking information regarding Chaveroo and
Milnesand well development and
expectations regarding additional reserves are based on plans and
estimates of management and interpretations of exploration
information by the Company's exploration team at the date the
information is provided and is subject to several factors and
assumptions of management. These assumptions include: that required
regulatory approvals will be available when required, that no
unforeseen delays, unexpected geological or other effects,
equipment failures, permitting delays or labor or contract disputes
or shortages are encountered, and that the development
plans of the Company will not change. Risks include: the
risk that anticipated results and estimated
costs will not be consistent with managements' expectations, the
Company will not be able to obtain and provide the
information necessary to secure
regulatory approvals
required, that unexpected geological results are encountered and
that equipment failures, permitting delays or labor or contract
disputes or shortages are encountered.
Information on other important economic factors or
uncertainties that may affect components of the reserves
data and the other statements in this
release are contained in the Company's Statement
of Reserves Data and Other Oil & Gas Information dated
December 31, 2017, and the Company's
MD&A under "Risk Factors", which are available under the
Company's profile at www.SEDAR.com.
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SOURCE Hunter Oil Corp.