CALGARY, Dec. 10, 2013 /CNW/ – First Mountain Exploration Ltd. (“First Mountain” or the “Company”) (TSX Venture: FMX) is pleased to announce it has commenced a horizontal drilling program in the Atlee Buffalo area of Alberta. On December 9, 2013 the well FMEL 03HZ ATL-BUFF 14-20-21-5W4M (the “well”) was spud and it is expected the well will reach a total depth of approximately 1,765 meters on December 17, 2013. Once completed, First Mountain plans to install production facilities and have the well on production early in January, 2014. First Mountain has an 85% working interest in the Atlee Buffalo Area.
A Note regarding Forward Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “will”, “expects”, “believe”, “plans”, “potential” and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward looking statements and information concerning the timing of the drilling of the well, the timing of the well being on production and the success of the well.
Although First Mountain believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because First Mountain can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates; failure to obtain the necessary regulatory approval, stock exchange and other regulatory approvals on the timelines planned. Management has included the above summary of assumptions and risks related to forward looking information provided in this press release in order to provide security holders with a more complete perspective on First Mountain’s future operations and such information may not be appropriate for other purposes.
The forward-looking statements and information contained in this press release are made as of the date hereof and First Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE First Mountain Exploration Ltd.
For further information:
Chief Executive Officer and Director
First Mountain Exploration Ltd.
Telephone: (403) 453-2266