VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2013) - Canada Energy Partners (TSX VENTURE:CE) (the "Company") is pleased to announce that it has arranged for a two year satisfaction of a $1.6 million plug and abandonment bond commitment to the BC Oil and Gas Commission and secured financing for two years, by way of a third party credit facility, of all lease property taxes and surface and subsurface rental obligations in exchange for granting a 12 month first-right-of-refusal on the Company's Montney assets. In addition Canada Energy has committed to sell certain dormant assets for $210,000. Closing is expected to occur on or before January 31, 2013. Canada Energy currently has no debt.
On behalf of the Board of Directors of Canada Energy Partners Inc.
John Proust, Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
John Proust
Chairman
(604) 696-9020
info@canadaenergypartners.com
Canada Energy Partners Inc.
Ben Jones
President and CEO
(225) 388-9900
info@canadaenergypartners.com
Canada Energy Partners Inc.
1680-200 Burrard St.
Vancouver, BC V6C 3L6
Main Phone: (604) 909-1154
Fax: (604) 488-0319
www.canadaenergypartners.com