Quattro Provides Correction to News Release, Q1 Cash-Flow From Operations was $1,814,509 or $ 0.054 Per Share for the 3 Month...
May 29 2014 - 6:00AM
Marketwired
Quattro Provides Correction to News Release, Q1 Cash-Flow From
Operations was $1,814,509 or $ 0.054 Per Share for the 3 Months
Ending March 31st, 2014
CALGARY, ALBERTA--(Marketwired - May 29, 2014) - Quattro
Exploration and Production Ltd. (TSX-VENTURE:QXP) ("Quattro" or the
"Company") provides correction to News Release of May 27th, 2014,
and retains of Renmark Financial Communications Inc.
During the first 3
months of 2014, the Company's average production was 1,252 boe/d
and Quattro's cash-flow from operations was $ 1,814,509 or $ 0.054
per share.
Quattro Exploration
and Production Ltd. exited the quarter ending March 31st, 2014
producing more than 1,500 boe/d growing from an exit rate of 1,040
boe/d at December 31st, 2014, a 45% increase in 3 months.
Furthermore, Quattro
is pleased to retain the services of Renmark Financial
Communications Inc. to increase its investor relations activities.
"We are pleased to announce that we have selected Renmark to
reinforce Quattro's profile in the financial community and
enhancing the visibility of our Company as it continues to grow. We
have chosen Renmark because its standards and methodologies will
strengthen Quattro's message in a manner we prefer to communicate
to the investing public while reaching a larger audience," noted
Leonard Van Betuw, President and CEO of Quattro Exploration And
Production Ltd.
Starting June 1st,
as part of the agreement, Quattro will only be responsible for the
cost and reimbursements of the corporations presentations organized
by Renmark Financial Communications.
Renmark Financial
Communications does not have any interest, directly or indirectly,
in Quattro Exploration And Production Ltd. or any right or intent
to acquire such interests.
About Quattro
Exploration and Production Ltd.
Quattro Exploration
and Production Ltd. ("QXP") continues to focus on the conventional
exploration and development of oil and natural gas reserves in
Western Canada, with an expanding presence in Alberta and British
Columbia. Its core low risk production base will provide the
Company the capacity to aggressively pursue a series of high impact
exploration and development efforts in Central and South America.
Quattro intends to balance this portfolio of activities to assure
its shareholders that it achieves material growth in both reserves
and production.
This release
includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements
of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events
or developments that the Company expects are forward-looking
statements. Although the Company believes the expectations
expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward- looking statements. Factors
that could cause actual results to differ materially from those in
forward looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's registered filings which are available at
www.sedar.com.
This news
release shall not constitute an offer to sell or the solicitation
of any offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities offered have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state
securities laws.
BOE
presentation:
Barrel ("bbl")
of oil equivalent ("boe") amounts may be misleading particularly if
used in isolation. All boe conversions in this report are
calculated using a conversion of six thousand cubic feet of natural
gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on
an energy conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the well
head.
Trading in the
securities of Quattro Exploration and Production Ltd. should be
considered highly speculative. Neither the 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.
Quattro Exploration and Production Ltd.Leonard Van
BetuwPresident and Chief Executive OfficerOffice (403) 984-3917 /
Direct Line (587)
228-7070leonard@qxp-petro.comwww.qxp-petro.comRenmark Financial
Communications Inc.Laurence A. Lachance:
llachance@renmarkfinancial.comRobert Thaemlitz:
rthaemlitz@renmarkfinancial.comMedia - Lynn Butler:
lbutler@renmarkfinancial.comTel.: (416) 644-2020 or (514)
939-3989www.renmarkfinancial.com