Azabache Energy Inc.

Azabache Energy Inc.

January 15, 2015 13:54 ET

Azabache Announces Retention of Financial Advisor

CALGARY, ALBERTA--(Marketwired - Jan. 15, 2015) -


Azabache Energy Inc. ("Azabache" or the "Company") (TSX VENTURE:AZA) announced today that it has retained the services of Fenix Partners to assist the Company in evaluating and analyzing financing options to develop the Company's 124,000 acres of Vaca Muerta shale properties. The various alternatives may involve a farm out, sale or merger of the company, or some other transaction that will advance the interest of shareholders.

Founded in 2002, Fenix Partners provides independent advisory services in corporate finance specialized in the energy sector. Among its services Fenix Partners offers advisory in corporate mergers, acquisitions and divestures, fund raising, debt restructuring, valuations, fairness opinions; and specific advice in acquisitions and divestures of oil & gas upstream assets.

Claudio Larotonda, President and CEO of the Company, stated "Following our successful oil find in 2014, the Company has to invest a minimum of $60 million over the next three years in order to drill and fracture stimulate wells and complete 3D seismic evaluation of the properties. We are looking for a suitable partner to assist us in both our technical and financial requirements. Fenix Partners' long and successful history in the Argentine energy sector will be very helpful in finding such a partner."

Argentina has a serious deficit of hydrocarbons and is currently importing gas and crude in excess of $1 billion per month. The new energy law approved in October 2014 provides a much-improved framework for international investors to fund oil and gas exploration. The Company's Vaca Muerta properties are located in the Neuquén Basin, one of the country's most prolific basins.

For further information on Azabache please visit the Company's website at

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the Company's financing options and its future operations. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Azabache. Although Azabache believes that the expectations and assumptions on which the forward- looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azabache can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to, the failure to obtain adequate financing or a suitable partner, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Azabache undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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