Manitok Energy Inc. Discloses Highlights From Year-End Reserves Report and Announces 2016 Year-End Financial Results.
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide highlights from its 2016 independent reserves evaluation and announce its financial results for the fiscal year-ended December 31, 2016.
2016 Independent Reserves Evaluation
Sproule Associates Limited ("Sproule"), Manitok's independent qualified reserves evaluator based in Calgary, Alberta, prepared a reserves estimation and economic evaluation effective December 31, 2016 in respect of Manitok's oil and natural gas properties ("2016 Sproule Report"). Sproule also prepared the reserves estimation and economic evaluation effective December 31, 2015 ("2015 Sproule Report") and together with the 2016 Sproule Report, the "Sproule Reports"). The reserves estimates stated herein are effective as at December 31, 2016 and 2015 (as applicable) and are extracted from the Sproule Reports. The Sproule Reports have been prepared in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101").
2016 Year-End Reserves Highlights
Below are highlights from the Sproule Reports. Full details are available electronically on Manitok's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and also on Manitok's website at www.manitokenergy.com:
The full text of Manitok's year-end report containing its audited financial statements as at and for the year ended December 31, 2016, the related management's discussion and analysis, NI 51-101 reserves disclosure and Manitok's annual information form for the year ended December 31, 2016 is available electronically on Manitok's profile on SEDAR at www.sedar.com and also on Manitok's website at www.manitokenergy.com on or before May 2, 2017.
2016 Year-End Results and Relevant Subsequent Events
Manitok is a public oil and gas exploration and development company focused on Lithic Glauconitic light oil in southeast Alberta and Cardium light oil in west central Alberta. The Corporation utilizes its expertise, combined with the latest recovery techniques, to develop the remaining oil and liquids-rich natural gas pools in its core areas of the Western Canadian Sedimentary Basin.
For further information view our website at www.manitokenergy.com.
SOURCE: Manitok Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.