CALGARY, ALBERTA–(Marketwired – Jan. 31, 2014) – Hyperion Exploration Corp. (“Hyperion” or the “Corporation”) (TSX VENTURE:HYX) announces that it has completed the previously announced disposition of 100 boe/d of non-core, gas weighted production in the Chip Lake Area of Central Alberta for cash consideration of $3.4 million (the “Disposition”). Proceeds from the Disposition will be used to reduce Hyperion’s bank debt.
Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of oil is based on an energy conversion method primarily applicable at the burner tip and is not intended to represent a value equivalency at the wellhead. All boe conversions in this press release are derived by converting natural gas to oil in the ratio of six thousand cubic feet of natural gas to one barrel of oil. Certain financial amounts are presented on a per boe basis, such measurements may not be consistent with those used by other companies.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Hyperion Exploration Corp.
Trevor Spagrud
President and CEO
(403) 930-0701
tspagrud@hyperionexploration.com