Crown Point Energy Inc. Comments on lifting of Currency Controls in Argentina
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/21/15 -- Crown Point Energy Inc. (TSX VENTURE: CWV) ("Crown Point" or the "Company") commented today on the removal of currency controls in Argentina, which had imposed foreign exchange restrictions on the Argentine peso ("AR$"). Crown Point advises that it does not anticipate a negative impact on its operations and business plan in Argentina as a result of the Argentine government''s recently announced lifting of currency controls.
The following summarizes the impact of the AR$ and the United States dollar ("US$") on the Company''s activities in Argentina. All numbers are presented in US$ unless otherwise stated.
About Crown Point
Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Calgary, Canada, incorporated in Canada, trading on the TSX Venture Exchange and operating in South America. Crown Point''s exploration and development activities are focused in the Neuquen and Austral basins in Argentina. Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.
Advisories
Forward-looking information: Certain information set forth in this document, including the following, is considered forward-looking information, and necessarily involve risks and uncertainties, certain of which are beyond Crown Point''s control: Crown Point''s assessment of the impacts of the lifting of the currency controls on Crown Point''s business and operations. Such risks include but are not limited to: risks associated with operating in Argentina, including risks of changing government regulations (including the adoption of, amendments to, or the cancellation of government incentive programs or other laws and regulations relating to commodity prices, taxation, currency controls and export restrictions, in each case that may adversely impact Crown Point), currency fluctuations; and economic or industry condition changes. Actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Crown Point will derive therefrom. With respect to forward-looking information contained herein, the Company has made assumptions regarding: the impact (or lack of impact) of the lifting of the currency controls on Crown Point''s business and the short, medium and long term effect of the lifting of the currency controls on the AR$ relative to the US$. Additional information on these and other factors that could affect Crown Point are included in reports on file with Canadian securities regulatory authorities, including under the heading "Risk Factors" in the Company''s annual information form, and may be accessed through the SEDAR website (). Furthermore, the forward-looking information contained in this document are made as of the date of this document, and Crown Point does not undertake any obligation to update publicly or to revise any of the included forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law.
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 news release.
Contacts:
Murray McCartney
President & CEO
Ph: (403) 232-1150
Crown Point Energy Inc.
Website:
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Datum: 21.12.2015 - 05:00 Uhr
Sprache: Deutsch
News-ID 1405659
Anzahl Zeichen: 3143
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Oil & Gas
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