• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Cequence Energy Announces Review of Strategic Alternatives

October 14, 20157:00 PM CNW

CALGARY, Oct. 14, 2015 /CNW/ – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) announces that its Board of Directors has determined that it is timely, prudent and in the best interests of shareholders to initiate a formal process to explore strategic alternatives with a view to enhancing shareholder value. Such strategic alternatives may include, but are not limited to, a corporate sale, merger or other business combination, a sale of a material portion of Cequence's assets, a joint venture, farm-in or farm-out or other transaction.

A special committee comprised of Messrs. Don Archibald (Chair), Peter Bannister and Howard Crone, each of whom are independent directors, will work with management and the Company's external advisors to oversee the review of strategic alternatives. The special committee has a mandate to solicit, review and consider strategic alternatives and to consider and recommend to the Board of Directors whether any transaction is in the best interests of the Company and its shareholders.  Peters & Co. Limited has been engaged as financial advisor to advise the special committee in connection with this comprehensive review and analysis of strategic alternatives.

Cequence has not set a definitive schedule to complete its identification, examination and consideration of strategic alternatives. Given the nature of the process, the Company does not intend to provide updates until such time as the Board of Directors approves a definitive transaction or strategic alternative, or otherwise determines that further disclosure is advisable. Cequence cautions that there are no guarantees that the review of strategic alternatives will result in a transaction, or if a transaction is undertaken, as to its terms or timing. The strategic alternatives review process has not been initiated as a result of receiving any transaction proposal.

Cequence will continue to focus on its near and long term business plan, centred on the development of its existing Montney resource at Simonette, and other prospective exploration and development activities.  To this end, the Company will continue to execute on its capital program with 2 (1.5 net) Dunvegan wells and 1 (1 net) Montney wells expected to be completed prior to year end.  Cequence has maintained a strong balance sheet and financial position during the current period of low commodity prices, and intends to continue to do so.

About Cequence

Cequence is a publicly traded Canadian energy company involved in the acquisition, exploitation, exploration, development and production of natural gas and crude oil in western Canada. Further information about Cequence may be found in its continuous disclosure documents filed with Canadian securities regulators at www.sedar.com.

Advisories & Contact

Forward-looking Statements or Information

Certain statements included in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements or information in this press release include, but are not limited to, Cequence's review of strategic alternatives, drilling and development plans and capital expenditure plans. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties may cause actual results to differ materially from the forward-looking statements or information. The material risk factors affecting the Company and its business are contained in the Company's Annual Information Form which is available on SEDAR at www.sedar.com.

The forward-looking statements or information contained in this press release are made as of the date hereof and the Company 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 required by applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

The TSX has neither approved nor disapproved the contents of this news release.

SOURCE Cequence Energy Ltd.

Cequence Energy Montney

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Heavy crude differential widens
  • Oil maintains upward momentum but virus concerns cap gains
  • CER analysis shows the U.S. continues to be major supplier of oil to Canada while imports dropped in 2020
  • Ontario Energy Association releases report examing the implcations of shutting down Ontario’s natural gas-fired generators by 2030
  • XI Technologies: Don’t forget ARO when developing ESG strategies

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.