Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its fourth quarter and full year 2016 financial and operating results and year-end reserves information.
Highlights of 2016:
Production from the Nisku L2L Pool (the "Pool"), the Company's primary source of cash flows, is projected to average in the range of 140 boe/d to 170 boe/d for the next six months as the operator manages reservoir performance and optimizes the Pool production and water injection requirements. During the second half of 2017 downhole pump upgrades are to be completed on the Pembina producer wells which will impact production slightly.
Additional expenditures will be incurred in 2017 related to capital costs for pump upgrades at Pembina and surface reclamation activity primarily related to the Company's Dawson, Alberta operated property.
Ironhorse's complete results for the year ended December 31, 2016, including audited financial statements and the management's discussion and analysis, statement of reserves data and other oil and gas information are available on SEDAR or the Company's web site at www.ihorse.ca.
Ironhorse Oil & Gas Inc. is a Calgary-based junior oil and natural gas production company trading on the TSX Venture Exchange under the symbol "IOG."
SOURCE: Ironhorse Oil & Gas Inc.
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