Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") has engaged
RBC Capital Markets ("RBC") and Scotia Waterous Inc. ("Scotia") as its financial
advisors to examine the sale of certain light oil, early-stage properties in the
Swan Hills region of Alberta. 

"Over the past four years we have focused on efficiently developing these light
oil reservoirs and we are now looking to capture a return that will help
strengthen our balance sheet," said Doug Penner, President of Arcan. "The assets
total approximately one third of Arcan's production and reserves and a sale
would provide financial flexibility, allowing Arcan to drive cash flow into the
further development of our inventory of long-life, light oil properties. We
believe the divestiture of these assets and further investment in our remaining
core assets will be accretive to shareholder value."

The Company has engaged RBC, as its lead advisor, to solicit interest in Deer
Mountain Unit No. 2 and its adjacent non-unit leases, Deer Mountain West and
Virginia Hills (the "Offered Properties"). In June 2013, the Offered Properties
produced approximately 1,482 barrels of oil equivalent ("BOE") per day. This
production was 97 percent light oil or 1,431 barrels of oil and liquids ("bbls")
per day of 37 degrees to 40 degrees sweet API oil plus approximately 307
thousand cubic feet ("MCF") per day of natural gas from the established
Beaverhill Lake Swan Hills production platform. 

Arcan has invested in core infrastructure in Deer Mountain Unit No. 2 and on
some of its adjacent non-unit leases to implement fully enhanced waterflood
recovery and stabilize production, while Deer Mountain West and Virginia Hills
are offered as development stage properties. These properties produce light oil
from the Swan Hills region capturing strong prices and attractive netbacks. The
Company believes that the Offered Properties are long-life production assets
where a defined well inventory has been de-risked by recent industry activity
and Arcan drilling. Arcan believes that the Offered Properties hold significant
potential for production growth, with additional water flood and infill
development drilling locations.

The Offered Properties

1.  Deer Mountain Unit No. 2 and its Adjacent Non-Unit Leases

--  1,119 BOE per day, low decline light oil production 
--  Operated position of 8,960 gross (7,573 net) acres 
--  Arcan 80.8742 percent unit and 80.0 percent non-unit working interest 
--  Waterflood at Deer Mountain Unit No. 2 has been implemented across
    entire unit 
--  Arcan estimates 66 million bbls of discovered oil initially in place
--  Total proved plus probable reserves of 9,040 thousand BOE 
--  3D seismic across asset 
--  Additional potential infill drilling locations 
--  Newly constructed oil battery supporting 8,000 bbls per day 
--  High grade road system for year-round well access

2.  Deer Mountain West 

--  201 BOE per day net production from two wells 
    --  00/14-28 - peak initial 30 day gross production of 281 bbls per day;
        cumulative oil production to date of 20 thousand bbls in three
    --  00/06-28 - peak initial 30 day gross production of 282 bbls per day;
        cumulative oil production to date of 56 thousand bbls in eight
--  Operated position of 2,880 gross (1,440 net) acres 
--  Arcan 50.0 percent working interest 
--  Arcan estimates 27 million bbls of DOIIP 
--  Total proved plus probable reserves of 1,017 thousand BOE 
--  Potential to drill up to 14 additional infill horizontal drilling
--  Established infrastructure capacity capable to support growth 
--  Believed to be a strong waterflood candidate for enhanced oil recovery

3.  Virginia Hills

--  162 bbls per day from one well which has been on production since March,
--  Arcan 100 percent working interest 
--  Arcan estimates 2.5 million bbls DOIIP 
--  Total proved plus probable reserves of 537 thousand BOE 
--  Additional location licensed on the existing lease

                                                         Value Summary Table
Asset           Working Interest Production(3)                  Financial(4)
                                                Netbacks Operating          
                   Oil/NGL       Gas     Total       (2)     CostsNetback(2)
                  (bbls/d)   (Mcf/d)   (BOE/d)     (MM$)   ($/BOE)   ($/BOE)
Deer Mountain                                                               
 Unit No.2 and                                                              
 Deer Mountain                                                              
 non-unit wells      1,074       270     1,119      15.4     19.07     39.64
Deer Mountain                                                               
 West                  195        37       201       4.4      7.19     73.23
Virginia Hills         162         -       162       4.1     10.57     46.08
Total                1,431       307     1,482      23.9     16.32     44.47

                     Value Summary Table
Asset                Reserves NPV(1) (5)
                                Proved &
                      Proved    Probable
                       (MM$)       (MM$)
Deer Mountain                           
 Unit No.2 and                          
 Deer Mountain                          
 non-unit wells        120.8       145.9
Deer Mountain                           
 West                   14.9        23.0
Virginia Hills           6.3         9.8
Total                  142.0       178.8


(1) See "Legal Advisories" below for more information with respect to NPV. 

(2) See "Legal Advisories" below for the method of calculation of this non-GAAP

(3) Working interest production numbers are for June, 2013. 

(4) Financial numbers represent annualized values as of the year-to-date June
30, 2013. 

(5) Reserves information from the GLJ Report effective July 1, 2013.


Arcan's Statement of Reserves Data and Other Oil and Gas Information, Report on
Reserves Data by Independent Qualified Reserves Evaluator and Report of
Management and Directors on Oil and Gas Disclosure were prepared in accordance
with National Instrument 51-101 - Standards of Disclosure for Oil and Gas
Activities and the Canadian Oil and Gas Evaluation Handbook effective July 1,
2013 and is dated September 20, 2013.

Summary of Oil and Gas Reserves - Forecast Prices and Costs

The table below provides a summary of the oil, NGLs and natural gas reserves
attributable to the Offered Properties, as evaluated by Arcan's independent
qualified reserves evaluator, GLJ Petroleum Consultants ("GLJ"), and contained
in their report dated September 20, 2013, effective July 1, 2013 (the "GLJ
Report") based on forecast price and cost assumptions. The tables summarize the
data contained in the GLJ Report and, as a result, may contain slightly
different numbers than those contained in the original report due to rounding.
Also due to rounding, certain columns may not add exactly. Readers should review
the definitions and information contained in "Presentation of Arcan's Oil and
Gas Reserves" and "Abbreviations" in Arcan's Annual Information Form, dated
April 11, 2013, in conjunction with the following table and notes. All of the
Offered Properties' reserves are located on-shore in Canada.

1.  Deer Mountain Unit No. 2 and its Adjacent Non-Unit Leases

                                      Light & Medium Oil Natural Gas Liquids
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                      (Mbbls)   (Mbbls)   (Mbbls)   (Mbbls)
Developed Producing                      4,404     2,774       208       120
Developed Non-Producing                      6         6         -         -
Undeveloped                              1,688     1,142        76        48
Total Proved                             6,099     3,921       285       169
Total Probable                           2,139     1,255       101        58
Total Proved + Probable                  8,238     5,176       386       227

                                          Natural Gas(1)               Total
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                       (MMcf)    (MMcf)   (MBOEs)   (MBOEs)
Developed Producing                      1,339     1,033     4,836     3,067
Developed Non-Producing                      2         1         7         6
Undeveloped                                494       384     1,847     1,254
Total Proved                             1,834     1,419     6,689     4,327
Total Probable                             661       510     2,351     1,399
Total Proved + Probable                  2,495     1,929     9,040     5,726

2.  Deer Mountain West

                                      Light & Medium Oil Natural Gas Liquids
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                      (Mbbls)   (Mbbls)   (Mbbls)   (Mbbls)
Developed Producing                        154       125         6         5
Developed Non-Producing                      -         -         -         -
Undeveloped                                461       402        18        15
Total Proved                               615       527        25        20
Total Probable                             323       251        13        10
Total Proved + Probable                    938       778        38        30

                                          Natural Gas(1)               Total
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                       (MMcf)    (MMcf)   (MBOEs)   (MBOEs)
Developed Producing                         41        38       168       135
Developed Non-Producing                      -         -         -         -
Undeveloped                                120       111       499       436
Total Proved                               161       148       667       571
Total Probable                              87        79       350       274
Total Proved + Probable                    248       227     1,017       845

3.  Virginia Hills

                                      Light & Medium Oil Natural Gas Liquids
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                      (Mbbls)   (Mbbls)   (Mbbls)   (Mbbls)
Developed Producing                        219       129        15        10
Developed Non-Producing                      -         -         -         -
Undeveloped                                  -         -         -         -
Total Proved                               219       129        15        10
Total Probable                             259       197        18        14
Total Proved + Probable                    478       326        33        24

                                          Natural Gas(1)               Total
                                    Gross (2)   Net (3) Gross (2)   Net (3) 
Reserves Category                       (MMcf)    (MMcf)   (MBOEs)   (MBOEs)
Developed Producing                         71        62       246       149
Developed Non-Producing                      -         -         -         -
Undeveloped                                  -         -         -         -
Total Proved                                71        62       246       149
Total Probable                              84        76       291       224
Total Proved + Probable                    155       138       537       373


(1) Estimates of reserves of natural gas include associated and non-associated gas.

(2) "Gross" reserves are Arcan's working interest share of remaining reserves
before the deduction of royalties.

(3) "Net" reserves are Arcan's working interest share of remaining reserves less
all Crown, freehold, and overriding royalties and interests owned by others.

GLJ employed the following pricing, exchange rate and inflation rate assumptions
as of July 1, 2013, in the GLJ Report in estimating reserves data using forecast
prices and costs(1):

                                                  Medium and Light Crude Oil
                                 Cushing    Edmonton      Cromer Alberta Gas
                                Oklahoma   Par Price      Medium   Reference
                              40 degrees 40 degrees29.3 degrees      Price
                                     API         API         API  Plant Gate
Year               Inflation   (US$/bbl)     ($/bbl)     ($/bbl)   ($/MMBTU)
2013 Q1                  0.9       94.37       88.75       80.75        2.87
2013 Q2                                                                     
 (estimate)              0.4       93.69       92.47       86.31        3.36
2013 Q3-Q4               2.0       95.00       92.50       85.10        3.51
2014                     2.0       95.00       94.00       86.48        3.62
2015                     2.0       95.00       94.00       86.48        4.07
2016                     2.0       97.50       96.50       88.78        4.51
2017                     2.0       97.50       96.50       88.78        4.74
2018                     2.0       97.50       96.50       88.78        5.00
2019                     2.0       98.54       97.54       89.74        5.10
2020                     2.0      100.51       99.51       91.55        5.21
2021                     2.0      102.52      101.52       93.40        5.32
2022                     2.0      104.57      103.57       95.28        5.42

                 Natural Gas            
                      AECO -    Exchange
                      C Spot        Rate
Year               ($/MMBTU)  (US$/CDN$)
2013 Q1                 3.18       0.991
2013 Q2                                 
 (estimate)             3.60       0.983
2013 Q3-Q4              3.71       1.000
2014                    3.83       1.000
2015                    4.28       1.000
2016                    4.72       1.000
2017                    4.95       1.000
2018                    5.22       1.000
2019                    5.32       1.000
2020                    5.43       1.000
2021                    5.54       1.000
2022                    5.64       1.000


(1) All pricing in the above table, excluding inflation and the exchange rate,
is escalated at 2.0 percent per year thereafter. Thereafter, inflation is
assumed to be constant at 2.0 percent and the exchange rate is assumed to be
constant at 1.000. 

About Arcan Resources Ltd.

Arcan Resources Ltd. is an Alberta, Canada corporation that is principally
engaged in the exploration and development of light oil resources located in the
Western Canadian Sedimentary Basin. 

Legal Advisories

Readers are cautioned that this press release contains the term "netbacks".
Netbacks represent revenue, less royalties and operating expenses. Netbacks do
not have any standardized meaning prescribed by Generally Accepted Accounting
Principles and are therefore unlikely to be comparable to similar measures
presented by other companies. Management of Arcan believes that netbacks are a
useful supplemental measure as they provide an indication of the ability to fund
future growth through capital investment and/or repay debt. Barrels of oil
equivalent ("BOE") may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 million cubic feet ("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. In addition, given that the
value ratio based on the current price of oil as compared to natural gas is
significantly different from the energy equivalent of six to one, utilizing a
BOE conversion ratio of 6 Mcf: 1 barrel would be misleading as an indication of
value. The estimates of reserves and future net revenue for individual
properties may not reflect the same confidence level as estimates of reserves
and future net revenue for all properties due to the effects of aggregation. 

Discovered Oil Initially in Place (DOIIP) is defined as the quantity of oil that
are estimated to be in place within a known accumulation. These are Arcan
estimates and there is no certainty that it will be economically viable or
technically feasible to produce any portion of this DOIIP except for those
identified as proved or probable reserves. Unless specifically stated otherwise,
all reserves contained herein are attributable to the independent reserves
report prepared by GLJ Petroleum consultants Ltd. with an effective date of July
1, 2013. 

The undiscounted or discounted net present value ("NPV") of future net revenue
attributable to reserves estimated by GLJ do not represent the fair market value
of those reserves.

Forward-looking Information

This press release contains certain forward-looking information and statements
within the meaning of applicable securities laws. The use of any of the words:
"expect", "anticipate", "continue", "estimate", "may", "will", "believe",
"plans", "possible", "potential" and similar expressions are intended to
identify forward-looking information or statements. In particular, but without
limiting the foregoing, this press release contains forward-looking information
and statements pertaining to the following: the volume and product mix of the
asset's oil and gas production; reserve and resource information and estimates;
capabilities of the newly constructed battery; year round well access; net
present value associated with the estimated reserves; production and facilities;
recompletion and drilling opportunities; projected project and well economics;
well spacing and facility capacity estimates; and estimated recoveries,
waterflood recoveries, and response.

The forward-looking information and statements contained herein reflect material
factors and expectations and assumptions of Arcan including, without limitation:
that the owner of the assets will conduct its operations in a manner consistent
with past operations; the general continuance of current or, where applicable,
assumed industry conditions; the continuance of existing and, in certain
circumstances, proposed tax and royalty regimes; pricing forecasts and
expectations; the accuracy of Arcan's internal estimates including those
relating to reserves and resources volumes; the reliability of information
obtained from third party sources; the estimated effects of the implementation
of the waterflood on the assets; the ability for the existing infrastructure
capacity to account for future growth; certain commodity in place, recoveries,
price and cost assumptions; and the impact of any disposition of any of the
Offered Properties. Arcan believes the factors, expectations and assumptions
reflected in the forward-looking information and statements are reasonable at
this time, but no assurance can be given that these factors, expectations and
assumptions will prove to be correct. The forward-looking information and
statements included herein are not guarantees of future performance and should
not be unduly relied upon. Such information and 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
information or statements including, without limitation: changes in commodity
prices; unanticipated operating results or production declines; changes in tax
or environmental laws or royalty rates; inaccurate estimates of the assets oil
and gas reserves and production volumes; increased costs and expenses; the
impact of competitors; reliance on industry partners; and certain other risks
detailed from time to time in Arcan's public disclosure documents including,
without limitation, those risks identified in this press release, and in Arcan's
Annual Information Form for the year ended December 31, 2012, a copy of which is
available on Arcan's SEDAR profile at

Arcan cautions that the foregoing list of assumptions, risks and uncertainties
is not exhaustive. The forward-looking information and statements contained in
this news release speak only as of the date of this news release, and Arcan 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 laws.

Neither 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.

Arcan Resources Ltd.
Terry McCoy
Chief Executive Officer
(403) 262-0321

Arcan Resources Ltd.
Douglas Penner
(403) 262-0321

Arcan Resources Ltd.
Suite 2200, 500 - 4th Avenue S.W.
Calgary, AB T2P 2V6

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