Ammonite Energy Ltd.
TSX VENTURE : AMO

August 28, 2009 17:07 ET

Ammonite Energy Ltd. Announces Q2 2009 Unaudited Financial and Operating Results

CALGARY, ALBERTA--(Marketwire - Aug. 28, 2009) -

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Ammonite Energy Ltd. (TSX VENTURE:AMO) ("Ammonite" or the "Company") announces unaudited financial and operating results for the three months ended June 30, 2009. The full text of Ammonite's unaudited financial statements for the three months ended June 30, 2009, the notes thereto and related management's discussion and analysis can be found at www.sedar.com.

As previously announced, Ammonite closed its private placement financing in early August raising $2,681,778 which leaves the Company in a positive working capital position. Funds from the financing will be used for development of its Saskatchewan and Wembley light oil prospects. Ammonite will commence drilling its first horizontal well on its Flaxcombe, Saskatchewan property in early September with additional locations being licensed for drilling later in 2009.

Ammonite currently has 36,896,197 Common Shares issued and outstanding which trade on the TSX Venture Exchange under the symbol "AMO".

Ammonite is a Calgary, Alberta based junior energy company primarily focused on light oil exploration, development and production in the Wembley area of northwest Alberta and Kindersley area of southwest Saskatchewan.

Ammonite is the result of a business combination with Ketchum Capital Corporation ("Ketchum"), a capital pool company listed on the TSX Venture Exchange, and Ketchum Acquisition Corporation pursuant to which Ketchum acquired all of the issued and outstanding common shares of Ammonite. The Acquisition constituted the Qualifying Transaction of Ketchum as defined in the policies of the TSX Venture Exchange. On January 19, 2009, the shareholders of Ketchum approved a change in the name of the Company from "Ketchum Capital Corporation" to "Ammonite Energy Ltd." and the consolidation of its common shares on the basis of one post-consolidation common share for every five pre-consolidation common shares. On January 22, 2009, the post-consolidation common shares of the Company commenced trading under the trading symbol "AMO".

Neither the TSX Venture Exchange nor Its Regulation Services Provider (as the term Is defined In the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ammonite Energy Ltd.
    Mr. Stephen N. Ewaskiw
    President and Chief Executive Officer
    (403) 263-9505
    or
    Ammonite Energy Ltd.
    Suite 1200, 520-5th Ave S.W.
    Calgary, Alberta, T2P 3R7