Peyto Exploration & Development Corp.
TSX : PEY

Peyto Exploration & Development Corp.

January 15, 2015 16:50 ET

Peyto Exploration & Development Corp. Announces Management Team Additions and Confirms Dividends for First Quarter 2015

CALGARY, ALBERTA--(Marketwired - Jan. 15, 2015) - Peyto Exploration & Development Corp. ("Peyto") (TSX:PEY) declares the following dividends, payable to shareholders of its common shares at the close of business on the record dates indicated.

Dividend Amount per Common Share Record Date Ex-Dividend Date Payment Date
$0.11 January 31, 2015 January 28, 2015 February 13, 2015
$0.11 February 28, 2015 February 25, 2015 March 13, 2015 (*)
$0.11 March 31, 2015 March 27, 2015 April 15, 2015 (*)
(*) Dividends are at the discretion of the Board of Directors and subject to change.

Dividends paid by Peyto to Canadian residents are eligible dividends for Canadian income tax purposes.

Peyto is also pleased to announce the addition of two new members to its management team. Mr. Lee Curran has been promoted to Vice President of Drilling and Completions. Mr. Curran has over 20 years of drilling experience and has held roles of increasing responsibility since joining Peyto's drilling department in 2006, most recently as the company's Drilling Manager. In addition, Mr. Todd Burdick has been promoted to Vice President of Production. Mr. Burdick has led the production operations of the company through its most recent and dramatic production growth phase from 17,000 boe/d in 2009 to over 85,000 boe/d today. The addition of these two individuals further strengthens Peyto's existing senior management team which is already known for its ability to deliver industry leading returns to shareholders.

Shareholders and interested investors are encouraged to visit the Peyto website at www.peyto.com to learn more about what makes Peyto one of North America's most exciting energy companies.

Certain information set forth in this document, including management's assessment of Peyto's future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Peyto's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive therefrom. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Darren Gee
    President and Chief Executive Officer
    Phone: (403) 237-8911
    Fax: (403) 451-4100