Rooster Energy Ltd.
TSX VENTURE : COQ

August 30, 2012 12:46 ET

Rooster Energy Ltd. Files Amended Financial Statements for First Quarter 2012

CALGARY, ALBERTA--(Marketwire - Aug. 30, 2012) - ROOSTER ENERGY LTD. (the "Company") (www.roosterenergyltd.com (TSX VENTURE:COQ) announces that it has filed on SEDAR (www.sedar.com) Amended Consolidated Financial Statements of Rooster Energy, LLC for the Three Months Ended March 31, 2012 and 2011. The financial statements have been amended to record additional accruals for expected plug and abandonment costs for the period ended March 31, 2012. As a result, the plug and abandonment expense was increased by (US)$2,362,072 on the consolidated statement of income (loss) and comprehensive income (loss) and the liability for asset retirement obligations was increased by the same amount on the consolidated balance sheet.

Additionally, the consolidated statement of changes in member equity has been amended to present the separate components of member equity between stated share capital of (US)$12,250,000 and retained earnings (deficit) for the periods presented.

Investors are welcome to visit our website at www.roosterenergyltd.com or contact the following for all corporate updates and investor inquiries:

United States Securities Matters

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rooster Energy Ltd.
    James D. Shockney
    Chief Financial Officer
    (832) 772-6313

    Rooster Energy Ltd.
    16285 Park Ten Place
    Suite 100
    Houston, Texas USA 77084
    www.roosterenergyltd.com