VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 10, 2015) – Lynden Energy Corp. (TSX VENTURE:LVL) (the “Company“) reports that the first two horizontal wells on the Company’s Wind Farms lease block in Glasscock County, Texas have been successfully drilled to their designed total depths. The first well, located in the central portion of the lease block has a lateral length of approximately 6,900 feet, and the second well, located on the eastern side of the lease block, has a lateral length of approximately 9,500 feet. Completion operations are expected to begin shortly on the first well and are expected to begin in early September on the second well.
The Company currently expects to provide its next operational update in late September concurrent with the reporting of its financial results for its fiscal year ended June 30, 2015.
Lynden Energy Corp. is in the business of acquiring, exploring and developing petroleum and natural gas rights and properties. The Company has various working interests in the Midland Basin and Eastern Shelf of the Permian Basin, West Texas, USA.
Further information relating to Lynden is also available on its website at www.lyndenenergy.com.
Certain statements and information in this press release may constitute “forward-looking statements” and are made pursuant to the “safe harbour” provisions of applicable Canadian securities laws and of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those anticipated. All comments concerning expectations as to the commencement of completion operations on the two wells reported in this news release are based on information currently available to management. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company’s control) and assumptions that could cause actual results to differ materially from the Company’s historical experience and management’s present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the volatility of commodity prices, product supply and demand; competition; access to and cost of capital; uncertainties about estimates of reserves and resource potential and the ability to add proved reserves in the future; the assumptions underlying production forecasts; the quality of technical data; environmental and weather risks, including the possible impacts of climate change; the ability to obtain environmental and other permits and the timing thereof; government regulation or action; the costs and results of drilling and operations; the availability of equipment, services, resources and personnel required to complete the Company’s operating activities; access to and availability of transportation, processing and refining facilities; the financial strength of counterparties to the Company’s credit facility and the purchasers of the Company’s production; and acts of war or terrorism; general economic conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s Securities and Exchange Commission filings.
For additional information regarding known material factors that could cause actual results to differ from projected results, please see “Part I, Item 1A. Risk Factors” in the Company’s Registration Statement on Form 10, initially filed with the SEC on October 29, 2014, (as amended by that certain Amendment No. 1 filed on December 29, 2014 and Amendment No. 2 filed on February 10, 2015) and which is also available under its profile at the SEDAR website (www.sedar.com), and with other reports that the Company files with the SEC and with Canadian securities regulators. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as may be required by Canadian securities laws.
Lynden Energy Corp.
President and CEO