PRD Energy Inc.

PRD Energy Inc.

September 05, 2012 06:00 ET

PRD Energy Awarded the Sittensen Exploration Licence Covering Over 85,000 Acres Onshore Germany

CALGARY, ALBERTA--(Marketwire - Sept. 5, 2012) - PRD Energy Inc. ("PRD" or the "Company") (TSX VENTURE:PRD) is pleased to announce that it has been awarded the Sittensen Exploration Licence covering approximately 85,000 acres in Germany. The license is located onshore in the state of Lower Saxony, Germany and has been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the Company. The Company also holds the Volkensen Production Licence which is within the boundaries of the Sittensen Exploration Licence.

The licence is awarded for an initial period of five years and includes all rights surface to basement. This licence has a history of previous production within its boundaries. Pursuant to the terms of the licence, PRD is committed to bringing at least two wells onto production within the initial five year term. The award of this licence is subject to the review and approval by various municipal and state government authorities.

About PRD Energy

PRD Energy Inc. is a Calgary based oil and gas company engaged in the exploration, development and acquisition of, natural gas and crude oil, principally in Europe. PRD Energy's common shares are listed on the TSX Venture Exchange with the symbol "PRD".

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 or accuracy of this release.

Contact Information

  • PRD Energy Inc.
    Michael Greenwood
    Chairman and Chief Executive Officer
    (403) 234-0501

    PRD Energy Inc.
    Mark Hornett
    President and Chief Operating Officer
    (403) 234-0501

    PRD Energy Inc.
    Jeff Scott
    Vice President, Finance and Chief Financial Officer
    (403) 234-0501
    (403) 234-0511 (FAX)