NuLoch Resources Inc.

NuLoch Resources Inc.

September 08, 2009 08:30 ET

NuLoch Resources Enters Into Letter of Intent

CALGARY, ALBERTA--(Marketwire - Sept. 8, 2009) - NuLoch Resources Inc. ("NuLoch") (TSX VENTURE:NLR.A)(TSX VENTURE:NLR.B) has entered into a letter of intent ("LOI") to acquire petroleum and natural gas properties in the Williston Basin region of the United States. The working interest in the properties includes approximately 100 barrels per day of light oil production and 25,000 net acres of land. The purchase price, consisting of cash and Class A common shares of NuLoch, totals approximately US$14.6 million.

The LOI contains a number of conditions, including, but not limited to, financing, satisfactory due diligence investigations, execution of a definitive purchase and sale agreement and approval of the Board of Directors of NuLoch. If all conditions are met, closing is anticipated to occur in October 2009.

Advisory - Forward-Looking Statements

Certain statements in this document or incorporated herein by reference constitute "forward-looking statements". These forward-looking statements can generally be identified as such because of the context of the statements, including words indicating that the Company "believes", "anticipates", "expects", "plans" or words of a similar nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions which will, among other things, impact demand for and market prices of the Company's products; industry capacity; the ability of the Company to implement its business strategy, including exploration and development activities; the ability of the Company to complete its capital programs; successful negotiations with bankers and other third parties; the success of exploration and development activities; production levels; government regulations and the expenditures required to comply with them (especially safety and environmental laws and regulations); asset retirement obligations; and other circumstances affecting revenues and expenses.

Neither 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

  • NuLoch Resources Inc.
    R. Glenn Dawson
    President and Chief Executive Officer
    (403) 920-0455
    NuLoch Resources Inc.
    2200, 444 - 5th Avenue SW
    Calgary, Alberta T2P 2T8
    (403) 920-0455
    (403) 920-0457 (FAX)