TSX Venture Exchange Symbol: DES
CALGARY, April 30, 2014 /CNW/ – Desmarais Energy Corporation (TSXV: DES) (the “Corporation” or “Desmarais”) announces that it has filed its December 31, 2013 Financial Statements, MD&A, and updated its reports regarding the Company’s reserves data and other oil and gas information for the year ended December 31, 2013 as required under National Instrument 51 – 101 Standards of Disclosure for Oil and Gas Activities (“NI 51 – 101”). This information has been filed on SEDAR at www.sedar.com.
Year End highlights include: proved plus probable (“P + P”) reserves of oil were 72.1 MSTB for 2013 compared to 75.5 MSTB (-4.5%) the previous year, and 1273 MMCF reserves of natural gas from 1397 MMCF (-8.9%). Estimated net present value of P + P reserves discounted at 10% was $3.239 million for 2013 compared to $3.489 million in 2012.
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.
Advisory: This press release may contain certain forward-looking statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward looking statements. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward looking statements contained in this press release are made as of the date hereof and Desmarais undertakes no obligation to update publicly or revise any forward looking statements or information, unless so required by applicable securities laws.
SOURCE Desmarais Energy Corporation
For further information: Doug F. Robinson, President and CEO, Desmarais Energy Corporation, Tel: (403) 265-8007 / Fax: (403) 264-7076, E-mail: email@example.com, Website: www.desmaraisenergy.com