Kilimanjaro Capital Ltd.
OTC PINK : KIMJF

Kilimanjaro Capital Ltd.

July 17, 2014 07:30 ET

Kilimanjaro to Acquire Additional Oil Properties in Western Alberta

BELIZE CITY, BELIZE--(Marketwired - July 17, 2014) - The directors and management of Kilimanjaro Capital (OTC PINK:KIMJF) are pleased to announce that it has expanded its letter of intent with Verity Energy Ltd. to include oil producing assets located in South Eastern, Alberta near Keho, Alberta (the "Keho Property").

The Assets currently produce 11 bbl/d oil. The Keho property recently underwent a work-over to the waterflood recovery program, it is anticipated that as the waterflood fills voidage that oil production may increase to 20 bbl/d. Additional drilling locations have also been identified on the Keho property.

The AJM Deloitte NI 51-101 reserves Report (effective eDecember 31, 2013 using AJM Forecast Pricing as of March 31, 2014) values the Proved plus Probable value of the Keho Property to be $4.44 million (NPV 10%). Detailed Reserves as reported by AJM Deloitte are as follows:

Keho Units PDP Proved P+P
Oil & NGL Mbbl 25.7 98.4 160.8
Value (NPV 10%) $ $727,200 $2,766,700 $4,438,700

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Contact Information