Firebird Energy Inc.
TSX VENTURE : FRD

February 19, 2013 06:00 ET

Firebird Energy Inc. Announces Agreement With Respect to Oil Assets in Texas

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2013) - Firebird Energy Inc. (TSX VENTURE:FRD) ("Firebird" or the "Company") reports that it has reached an Agreement with a private British Columbia company ("Privateco") pursuant to which Firebird will acquire all of Privateco's exclusive rights in the State of Texas, USA. These rights include funding the development of leases located throughout Caldwell County specifically in Salt Flat, Luling-Branyon and Darst Creek Fields. In connection with the Agreement, Firebird has paid Privateco a refundable deposit in the amount of approximately $100,000.

The completion of any transaction by Firebird will be subject to, among other things, the execution of final documentation, the completion of all necessary due diligence and the receipt of any required TSX Venture Exchange or other regulatory approvals.

Additional information with respect to the transaction, including the key terms thereof, will be provided in subsequent news releases when available.

Forward-looking Statements

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to negotiate for or complete the purchase and sale contemplated herein. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement or complete the transaction contemplated herein, that the Company's due diligence will be satisfactory or that the Company will obtain any required regulatory approvals. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, potential downturns in economic conditions, fluctuations in the price and supply of raw materials, equipment and skilled labour, fluctuations in the market price of minerals, foreign exchange fluctuations, regulatory requirements and changes thereto, competition, and other risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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 of this release.

Contact Information

  • Firebird Energy Inc.
    Kevin Patterson
    President
    (306) 337-2086