Poplar Creek Resources Inc.
TSX VENTURE : PCK

August 28, 2009 10:57 ET

Poplar Creek Resources Inc. Announces Extension of Acquisition Tranches

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

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Poplar Creek Resources Inc. (the "Corporation"), "PCK" on the TSX Venture Exchange (the "Exchange") (TSX VENTURE:PCK), announces that it has entered into an Amending Letter Agreement dated August 27, 2009 with Twoco Petroleums Ltd. ("Twoco") relating to the previously announced Purchase and Farmout Agreement dated June 26, 2009 between Poplar and Twoco. Under the terms of the Amending Letter Agreement each of the dates for Poplar to exercise its right to purchase additional interests have been extended by two months. Accordingly, the initial additional interest purchase date has been amended from September 1, 2009 to November 1, 2009, the second from October 1, 2009 to December 1, 2009, the third from November 1, 2009 to January 1, 2010 and the fourth from December 1, 2009 to February 1, 2010. In addition, the drilling commencement date of the two well drilling commitment by Twoco, has been amended from September 18, 2009 to November 17, 2009.

This release includes certain statements that may be deemed "forward looking statements". More particularly, this news release contains statements concerning completion of the proposed Transaction, drilling plans, capital programs, debt and funds flow from operations. All statements in this release, other than statements of historical facts, which address future activities including the closing of the Transaction or the private placement, exploration drilling and activity, reserves potential, and events or developments that the Corporation intends, plans, anticipates, believes, estimates or expects are forward looking statements. Actual results may differ materially. Although the Corporation believes 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 results to differ materially from those in the forward looking statements include, but are not limited to: market conditions and difficulties of raising funds in this economic environment, availability and costing of exploration contractors; exploration success; continued availability of capital government regulations, laws and charges; environmental developments; exploitation economics; and generally the economic, market, financial and business conditions in the present volatile and uncertain economic period. Investors are cautioned that any statements are not guarantees of future performance and actual results or developments may differ materially from those stated in the forward looking statements. The Company does not intend, and does not assume any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Poplar Creek. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

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.

Contact Information

  • Poplar Creek Resources Inc.
    John Carruthers
    CEO
    (403) 875-1821
    or
    Poplar Creek Resources Inc.
    Richard Edgar
    President
    (403) 616-5387