MARKSMEN ANNOUNCES FILING OF ITS ANNUAL DISCLOSURE DOCUMENTS ON SEDAR+
April 29 2024 - 8:50PM
Marksmen Energy Inc. (TSXV: MAH) (“
Marksmen” or
the “
Company”) announces that it has filed
disclosure documents for the year ended December 31, 2023, on
SEDAR+ as listed below:
- Audited Consolidated Financial
Statements
- Management’s Discussion and
Analysis
- Form 51-101F1 - Statement of
Reserve Data and Other Oil and Gas Information
- Form 51-101F2 - Report on Reserves
Data by Independent Qualified Reserve Evaluator
- Form 51-101F3 - Report of
Management and Directors on Oil and Gas Disclosure
For the year ended December 31, 2023, Marksmen
did a thorough review of its Exploration and Evaluation (E&E)
assets and its Property and Equipment (P&E) assets, in
conjunction with its auditors and reserve evaluators. This resulted
in an impairment (write down) of these assets.
E&E assets represent the acquisition of
undeveloped land, seismic activity and the costs associated with
wells that have not reached technical feasibility and commercial
viability within Ohio, USA. These assets were impaired by
$430,832.
P&E assets represent wells and facilities in
Ohio, USA. Based on the 2023 reserves report these assets did not
exceed their carrying value and accordingly were impaired by
$3,051,672. Marksmen has engaged an Alberta based engineering firm
to, among other things, introduce process improvement techniques
and optimization of these wells, which if successful, could reverse
some of this impairment.
The documents listed above can be found in
Marksmen’s disclosure documents on the SEDAR+ website at
www.sedarplus.ca.
For additional information regarding this news
release please contact Archie Nesbitt, Director, and CEO of the
Company at (403) 265-7270 or e-mail
ajnesbitt@marksmenenergy.com.
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.
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