CN Resources Inc. Commences Oil Production
January 21 2014 - 11:12AM
Marketwired
CN Resources Inc. Commences Oil Production
NEW YORK, NY--(Marketwired - Jan 21, 2014) - CN Resources Inc.
(OTCQB: CNRR), a Nevada Corporation, is pleased to announce that it
has commenced light oil production in its first joint venture (50%
W.I.) oil well in Alberta, Canada.
The well has been equipped and tested for two months and is put
into production. The well is currently producing 30 barrels of
light oil per day.
CN Resources Inc. (OTCQB: CNRR)
CN Resources is a disciplined and managed risk oil and gas
exploration and development company with activities focused on
Western Canada. The Company believes that the best value creation
opportunities are in areas where political risks are low,
significant oil has been recovered and plenty of oil still in the
ground, and substantive and accretive business opportunities
exist.
CN Resources immediate focus is to co-develop producing oil
wells on existing reserves, capture offset opportunities and
maximize re-entry opportunities that are accretive to our
shareholders immediately.
CN Resources strategy is to build oil production and also be
opportunistic on acquisition for development land in Western Canada
to deliver return to our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS Oliver Xing, CPA. CA
Forward-looking Statements This press release contains
forward-looking statements (as defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended) concerning future
events and the Company's growth and business strategy. Words such
as "expects," "will," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and variations on such words
and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of the Company. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, changes in
the Company's business; competitive factors in the market(s) in
which the Company operates; risks associated with its operations in
the United States, Canada and elsewhere; and other factors listed
from time to time in the Company's filings with the Securities and
Exchange Commission. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Cautionary Note to U.S. Investors The United States Securities
and Exchange Commission permits resources companies, in their
filings with the SEC, to disclose only proved reserves that a
company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible under
existing economic and operating conditions. We may use certain
terms in this press release, such as "probable," "possible,"
"recoverable" or "potential" reserves among others, that the SEC's
guidelines strictly prohibit us from including in filings with the
SEC. Investors are urged to consider closely the disclosure in our
filings with the SEC.
INVESTOR RELATIONS E-mail: oliverxing@rogers.com Tel:
416-562-8120
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