Advantage Announces Closing of $176 Million Asset Disposition
July 27 2009 - 6:00PM
PR Newswire (US)
CALGARY, July 27 /PRNewswire-FirstCall/ -- Advantage Oil Gas Ltd.
("Advantage" or the "Corporation") (AAV - TSX, AAV - NYSE)
announced today that the disposition of the Package One Assets (as
referenced in our press release dated June 15, 2009) has
successfully closed for gross proceeds of $176 million, subject to
customary adjustments, with an April 1, 2009 effective date. The
proceeds have reduced bank indebtedness under Advantage's credit
facility, which may be subsequently redrawn to fund future capital
expenditures, and for general corporate purposes. Advisory The
information in this press release contains certain forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical
fact may be forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "estimate", "expect",
"may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe", "would" and
similar expressions. These statements involve substantial known and
unknown risks and uncertainties, certain of which are beyond
Advantage's control, including: the impact of general economic
conditions; industry conditions; changes in laws and regulations
including the adoption of new environmental laws and regulations
and changes in how they are interpreted and enforced; fluctuations
in commodity prices and foreign exchange and interest rates; stock
market volatility and market valuations; volatility in market
prices for oil and natural gas; liabilities inherent in oil and
natural gas operations; uncertainties associated with estimating
oil and natural gas reserves; competition for, among other things,
capital, acquisitions, of reserves, undeveloped lands and skilled
personnel; incorrect assessments of the value of acquisitions;
changes in income tax laws or changes in tax laws and incentive
programs relating to the oil and gas industry and income trusts;
geological, technical, drilling and processing problems and other
difficulties in producing petroleum reserves; and obtaining
required approvals of regulatory authorities. Advantage's actual
results, performance or achievement could differ materially from
those expressed in, or implied by, such forward-looking statements
and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur or, if any of them do, what benefits that Advantage will
derive from them. Except as required by law, Advantage undertakes
no obligation to publicly update or revise any forward-looking
statements. DATASOURCE: Advantage Oil & Gas Ltd. CONTACT:
Investor Relations, Toll free: 1-866-393-0393, ADVANTAGE OIL GAS
LTD., 700, 400 - 3rd Avenue SW, Calgary, Alberta, T2P 4H2, Phone:
(403) 718-8000, Fax: (403) 718-8300, Web Site:
http://www.advantageog.com/, E-mail:
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