Skope Energy Inc.

Skope Energy Inc.

September 10, 2012 08:45 ET

Skope Energy Inc. Announces Delisting From the TSX and Plans to Seek Listing on an Alternate Exchange

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2012) - Skope Energy Inc. ("Skope" or the "Company") (TSX:SKL) announced the Toronto Stock Exchange ("TSX") has informed the Company that it is delisting Skope's common shares at the close of market on October 10, 2012. However, such date can be extended by the TSX at its sole discretion.

The TSX initiated a delisting review on May 11, 2012 pursuant to its continued listing criteria and largely as a result of the market value of the Company's TSX listed shares. Despite Skope's aggressive natural gas price hedging program, the reduction in market value of its common shares is due primarily to matters arising from a dramatic reduction in the price of natural gas.

At this time, Skope intends to seek a listing on an alternative exchange and continues its process of evaluating strategic alternatives. However, no assurances can be made respecting the potential outcome of this listing application or strategic alternatives.


This news release contains forward looking statements. These statements relate to future events or the Company's future performance. All information and statements contained herein that are not clearly historical in nature constitute forward looking statements, and the words "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "propose", "predict", "potential", "continue", or the negative of these terms or other comparable terminology are generally intended to identify forward looking statements. These statements involve known or unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Undue reliance should not be placed on these forward looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. In particular, this news release contains forward-looking statements relating, but not limited to the delisting of the Company's common shares on the TSX, the Company's plans to seek a listing on an alternate exchange and the Company's strategic alternatives process.

Management has included forward-looking information in this press release in order to provide security holders with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes. These forward-looking statements are based on certain assumptions and are subject to a number of risks including the risk that the Company is unable to list on an alternate exchange or successfully complete its refinancing or restructuring efforts. Investors are cautioned that such information, although considered reasonable by the Company, may prove to be incorrect.

Skope'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 Skope will derive therefrom.

Readers are cautioned that the foregoing lists of factors are not exhaustive. The forward-looking statement disclosure contained in this news release is expressly qualified by this cautionary statement.

These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.


Skope is in the business of oil and natural gas exploration, development and production in Western Canada with a focus on shallow natural gas. Skope owns an 80% working interest in a package of high quality, long-term, low decline producing shallow gas assets, located in southeast Alberta and southwest Saskatchewan.

Skope's common shares are listed on the Toronto Stock Exchange under the symbol "SKL".

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