CALGARY, ALBERTA -- (Marketwired) -- 06/05/14 -- Gordon Creek Energy Inc. (TSX VENTURE: GDN) (the "Company") announced that the completion of the evaluation of its Gordon Creek, Utah natural gas reserves. The evaluation was prepared by GLJ Petroleum Consultants of Calgary, Alberta effective as of January 31, 2014 in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas activities. Form 51-101F1, Form 51-101F2 - Report of Independent Qualified Reserves Evaluator, and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure have been filed with Canadian securities regulators. In addition, the Company has filed its audited annual financial statements and related management's discussion and analysis for the period ended January 31, 2014.
Copies of these documents may be viewed on the System for Electronic Document Analysis and Retrieval website at www.sedar.com.
The Company also announced that it issued 1,813,684 shares at a deemed price of $0.1008 per share representing 50% of the interest due on the Company's $10,000,000 Gas Linked Debentures for the quarter ended April 30, 2014. The Company has deferred the payment of the cash portion of the quarterly payment pending completion of a financing transaction.
Gordon Creek Energy is an oil and gas exploration and production Company with interests in the US Rockies.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-looking information
Information in this news release respecting the Company's, reserves, development activities and development financing opportunities constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation.
Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Contacts:
Gordon Creek Energy Inc.
Rupert Evans
VP Geosciences
403-453-1608
403-453-1609 (FAX)
revans@gordoncreekenergy.com
Gordon Creek Energy Inc.
John Bell
CFO
403-453-1608
403-453-1609 (FAX)
jbell@gordoncreekenergy.com
www.gordoncreekenergy.com
