CALGARY,
AB, June 1, 2023 /CNW/ - Paramount Resources
Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to
announce the appointment of Ms. Jill
McAuley of Calgary, Alberta
to its Board of Directors (the "Board"). Ms. McAuley has 19 years
of operational and technical experience in the oil and natural gas
sector, including senior executive responsibility for corporate
strategy, asset development, reservoir management, marketing and
forecasting. She was a founder and Senior Vice President of
Deltastream Energy Corporation from 2014 until its successful sale
in 2022. From 2004 to 2014, Ms. McAuley was an exploitation
engineer with an intermediate exploration and production company.
Ms. McAuley is a professional engineer and holds a Bachelor of
Science in Biological and Chemical Engineering from the University
of British Columbia.
The Company is also pleased to announce that the Board has
declared a cash dividend of $0.125
per common share that will be payable on June 30, 2023 to shareholders of record on
June 15, 2023. The dividend will be
designated as an "eligible dividend" for Canadian income tax
purposes.
ABOUT PARAMOUNT
Paramount is an independent, publicly traded, liquids-rich
natural gas focused Canadian energy company that explores for and
develops both conventional and unconventional petroleum and natural
gas, including longer-term strategic exploration and
pre-development plays, and holds a portfolio of investments in
other entities. The Company's principal properties are located in
Alberta and British Columbia. Paramount's class A common
shares are listed on the Toronto Stock Exchange under the symbol
"POU".
www.paramountres.com
ADVISORIES
The potential payment of future dividends under the Company's
monthly dividend program would be considered forward-looking
information under applicable securities legislation. Although
Paramount believes that the expectations reflected in such
forward-looking information are reasonable based on the information
available at the time of this press release, undue reliance should
not be placed on the forward-looking information as Paramount can
give no assurance that such expectations will prove to be correct.
Such forward-looking information is based on a number of
assumptions which may prove to be incorrect, including assumptions
as to the Company's future free cash flow, operating results,
capital requirements and financial position. There are risks that
may result in the Company changing, suspending or discontinuing its
monthly dividend program, including changes to free cash flow,
operating results, capital requirements, financial position, market
conditions or corporate strategy and the need to comply with
requirements under debt agreements and applicable laws respecting
the declaration and payment of dividends. There are no assurances
as to the continuing declaration and payment of future dividends by
the Company or the amount or timing of any such dividends. For more
information relating to risks, see "Risk Factors" in
Paramount's annual information form for the year ended December 31, 2022, which is available on SEDAR at
www.sedar.com.
Any forward-looking information is provided as of the date
hereof and, except as required by applicable securities law,
Paramount undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise.
SOURCE Paramount Resources Ltd.