VANCOUVER, Aug. 22, 2017 /CNW/ - Canada Energy
Partners Inc.'s (TSX-V: CE) (the "Company") has
successfully surface tested its prototype jetcav mining tool (the
"JetCav tool"). The JetCav tool effectively granulated
5 out of 6 the kimberlite targets from a Canadian diamond mine. The
kimberlite targets are one of the hardest of the minerals
prospective to the JetCav tool. The Company is pleased with the
results and intends to apply the tool to an actual mineral deposit
as soon as possible.
An explanatory video showing the actual test results can be
viewed on the Company's website at
www.canadaenergypartners.com.
The Company received a decision from the Oil & Gas Appeal
Tribunal ("OGAT") on August 21,
2017 dismissing the Company's appeal. The Oil & Gas
Commission ("OGC") is still deliberating, after the
previously concluded Technical Review, whether to cancel the
Company's water disposal well permit or conversely to withdraw the
Suspension Order. If the OGC withdrew the Suspension Order,
the Company would be allowed to resume water disposal
operations. The OGAT stated in their decision that should the
OGC cancel the Company's water disposal well permit that would be
an appealable decision.
The OGAT decision and all of the prior Company's submissions to
the Tribunal can be viewed on our website at:
www.canadaenergypartners.com.
On behalf of the Board of Directors of
Canada
Energy Partners Inc.
"Benjamin Jones"
Benjamin
Jones
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words or statements that certain events or
conditions "may" or "will" occur, including, without limitation,
estimated revenues.
Forward-looking statements are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected in the
forward-looking statements. These factors include, without
limitation, regulatory approvals, mechanical integrity of the water
disposal well, receptivity of the disposal zone, variability of
operating costs, risks associated with oil and gas production and
exploration, retention of and ability to attract company personnel,
volatility of commodity prices, currency and interest rate
fluctuations, environmental risk, inability to access sufficient
capital from internal and external sources and changes in
legislation, including income tax, environmental and regulatory
matters.
This press release, in particular the information in respect
of estimated revenues, may contain future-oriented financial
information or financial outlook within the meaning of applicable
securities laws. Such future-oriented financial information
or financial outlook has been prepared for the purpose of providing
information about management's reasonable expectations as to the
anticipated results of its proposed business
activities. Readers are cautioned that reliance on such
information may not be appropriate for other purposes.
The forward-looking statements contained in this press
release are made as of the date hereof, and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, unless so required by law.
SOURCE Canada Energy Partners Inc.