CEE Centamin Plc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) confirms the
interim closing on December 31, 2013 of a non-brokered private placement of
flow-through common shares (the "Flow-Through Shares"). A total of 6,050,000
Flow-Through Shares were issued at a price of $0.10 per common share, for gross
proceeds of $605,000. Insiders, including W. Brett Wilson, the Company's
Chairman, purchased 3,850,000 Flow-Through Shares in the Private Placement. The
Funds will be used for crude oil development expenditures (CDE), which will
qualify as renounceable exploration expenses ("CEE"), on its recently acquired
central Alberta properties. 


Operationally, Forent is pleased to confirm that its application for
down-spacing on the Twining assets has been approved by the Alberta Energy
Regulator, accelerating the in-fill drilling plans. Engineering and AFE costing
has been completed for the proposed free-water knockout at Provost enabling
Forent to seek partner approval to proceed in January, 2014. As well, a surface
location has been confirmed and acquired at Montgomery, permitting Forent's
industry partner to finalize rig mobilization plans and commencement of a
significant exploration test well. (See www.forentenergy.com for the current
near term capital program details.) 


In light of the foregoing operational opportunities, Forent has elected to
continue to accept further orders up to the $1.0 million of total Flow-Through
Shares it can issue on the 2014 CDE to CEE conversion until January 29, 2014, or
until fully subscribed. Forent also confirms that it will also consider the
placement of up to $500,000 of straight common shares to also close in January
2014 based on market pricing conditions. 


The private placements are subject to applicable regulatory and TSX Venture
Exchange approval and completion of definitive documentation. Common shares
issued under the private placements will be restricted from resale for a four
month period from closing under Canadian securities laws. 


Forent has approximately 181,565,715 common shares issued and outstanding which
trade on the TSX Venture Exchange under the symbol "FEN".


ADVISORY: Certain information in this news release, including the anticipated
closing of the Private Placement, the use of the proceeds to incur Canadian
Exploration Expenses, and the drilling of wells at the Company's Wayne, Twinning
and Montgomery properties, constitute forward-looking statements under
applicable securities laws. Although Forent believes that the expectations
reflected in these forward looking statements are reasonable, undue reliance
should not be placed on them because Forent 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.
The closing of the Private Placement could be delayed if Forent is not able to
obtain the necessary stock exchange approval on the timeline it has planned. The
Private Placement will not be completed at all if this approval is not obtained
or some other condition to the closing is not satisfied. Accordingly, there is a
risk that the Private Placement will not be completed within the anticipated
time or at all. The forward-looking statements contained in this news release
are made as at the date of this news release and the Corporation does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws. 


Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural
gas volumes have been converted to barrels of oil at six thousand cubic feet
(mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in
isolation. A boe conversion of six thousand cubic feet per barrel is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead. References to oil in
this discussion include crude oil and natural gas liquids (NGLs). 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
FORENT ENERGY LTD.
Richard Wade, President & CEO
Email: rwade@forentenergy.com
Phone: (403) 262-9444 #211
Web:    www.forentenergy.com


FORENT ENERGY LTD.
Brad R. Perry, acting CFO
bperry@forentenergy.com
(403) 262-9444 #208

Centamin (TSX:CEE)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Centamin (TSX:CEE)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024