Maple Leaf 2011 Energy Income Limited Partnership-Capital Fully Invested
March 15 2012 - 3:09PM
Marketwired
Maple Leaf 2011 Energy Income Limited Partnership (the
"Partnership") is pleased to announce that the Partnership has
fully invested all available funds of $16,189,714 into 12 joint
ventures located in North Central Alberta. Within this 12 well
horizontal drilling program, 11 of the wells are targeting light
oil in the Cardium formation and one well is targeting liquids rich
gas in the Notikewin formation.
To date, 10 wells in the program have been successfully drilled
and 9 of those 10 drilled wells are tied-in and are currently
meeting production expectations. It is expected that the balance of
the wells in the program will be finalized by month-end and tied-in
after spring breakup.
Distributions to limited partners commenced in January 2012
starting a $0.50 per unit and increased to $1.12 per unit in
February 2012.
The Partnership's joint venture partner is Bellatrix Exploration
Ltd. (www.bellatrixexploration.com). Bellatrix is an intermediate
exploration and production company based in Calgary, Alberta and is
traded on the Toronto Stock Exchange under the symbol BXE.
This press release contains forward-looking information within
the meaning of Canadian securities laws. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Partnership
expects or anticipates will or may occur in the future, including
such things as, the commencement of expected revenues, future cash
distributions, the plan for the Second Program, the investment of
the Partnership's remaining available funds, and other such matters
is forward-looking information. When used in this press release,
the words "indicate," "expect," "intend," "hopes," "believe,"
"may," "will," "if," "anticipate," and similar expressions are
intended to identify forward-looking information. These statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Partnership to be materially different from any future results,
performance or achievements expressed or implied by such
statements. Such factors include, among others, uncertainties
including that the Partnership may not hold or discover commercial
quantities of resources and will be subject to fluctuations in
commodity prices, exchange rates, and regulatory and policy risk;
fees and expenses payable by the Partnership may decrease the
assets available for investment by the Partnership; there can be no
assurance that oil and gas companies will honor their obligations
under investment agreements; there may be defects in title to or
other ownership disputes with respect to properties subject to
investments; oil and natural gas production and exploration are
high risk activities; the Partnership competes with other entities
in the oil and gas industry, many of whom are larger, which may
decrease the investment opportunities available to the Partnership;
there can be no assurance that expectations based on past
experience will be indicative of future results; as well as those
factors discussed under the headings "Cautionary Statement
Regarding Forward Looking Information" and "Risk Factors" in the
Partnership's prospectus dated August 16, 2011 and other documents
filed with Canadian securities regulatory authorities. Although the
Partnership has attempted to identify important factors that could
cause actual results to differ materially from those described in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Except as
required by law, the Partnership assumes no obligation to publicly
update any forward-looking information; whether as a result of new
information, future events or otherwise.
Contacts: Maple Leaf 2011 Energy Income Limited Partnership
Shane Doyle President 604.684.5750 or Toll Free: 866.688.5750
604.684.5748 (FAX)info@cadobancorp.ca www.mapleleaffunds.ca