RMP Energy Inc.
TSX : RMP

RMP Energy Inc.

November 01, 2013 17:05 ET

RMP Energy Announces Closing of Asset Purchase

CALGARY, ALBERTA--(Marketwired - Nov. 1, 2013) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce today that the Company has closed the previously-announced purchase of complementary Montney light oil assets located in its core areas of Ante Creek and Waskahigan in West Central Alberta for total cash consideration of approximately $38.0 million. RMP now holds a total of 106 sections (105.15 net) of land at Ante Creek, Waskahigan and Grizzly, wherein the Company has developed significant technical acumen with the Triassic-age Montney reservoir formation, providing for a significant light oil resource base with an extensive inventory of future, Company-operated drilling opportunities.

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The information in this news release may contain certain forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Statements relating to "reserves" are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future. More particularly and without limitation, this news release contains forward-looking information relating to the Company's inventory of future drilling opportunities. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; volatility in market prices for crude oil, natural gas and NGLs; foreign exchange currency and interest rate fluctuation; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry ; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that the Company will derive from them. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements.

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