Vital Energy Inc.

February 03, 2015 16:01 ET

Vital Energy Inc.: Drilling Update

CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Vital Energy Inc. ("Vital" or the "Corporation") (TSX VENTURE:VUX) announces the following status update:

Pennant Area, S.W. Saskatchewan: The previously announced 2 horizontal well locations at 2A8-15-3A2-15-18-17 W3M and 3D1-15-2D9-15-18-17 W3M have both been drilled, cased and are currently being equipped for production. Production rates will be announced after the wells have been on production for a minimum of 30 days.

Based on the initial encouraging results obtained from the first 2 horizontal wells Vital has applied for 2 more horizontal well licenses on the Pennant project. The locations are Vital Battrum HZ 2A11-16-2A9-16-18-17W3M and Vital Battrum HZ 4D7-15-3B2-15-18-17W3M.

Vital is the Operator of the Pennant Area development project and owns a 100% interest.

Vital Energy Inc. is a publicly traded junior oil and gas company (TSX VENTURE:VUX) whose primary focus is developing light and medium crude oil production in Western Canada.

Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.

Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Sundance. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Sundance does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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