API Apic Petroleum Corporation

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES


Longreach Oil & Gas Limited (TSX VENTURE:LOI) ("Longreach") and APIC Petroleum
Corporation (TSX VENTURE:API) ("APIC") are pleased to announce that on December
19, 2012, APIC obtained a final court order from the Royal Court of Jersey,
Channel Islands, Samedi Division (the "Royal Court") with respect to a proposed
scheme of arrangement (the "Arrangement") between APIC and Longreach. 


Trading in shares of APIC ("APIC Shares") have been halted pending closing of
the Arrangement which is expected to occur on December 20, 2012. Upon closing of
the Arrangement the whole of the undertaking, property and liabilities of APIC
will be transferred to Longreach, with Longreach being the surviving legal
entity and APIC dissolving and de-listing from the TSXV. 


CAUTIONARY STATEMENTS RE FORWARD LOOKING INFORMATION 

Statements in this press release contain forward-looking information within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "contemplates", "intends", "plan", "expect",
"project", "believe", "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur. In
particular, forward-looking information in this press release includes, without
limitation, statements with respect to closing of the Arrangement. Readers are
cautioned that assumptions used in the preparation of forward-looking
information may prove to be incorrect. Although Longreach and APIC each believes
that the expectations reflected in the forward-looking information is
reasonable, there can be no assurance that such expectations will prove to be
correct. Neither Longreach nor APIC can guarantee future results, level of
activity, or performance of achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors (many of which are beyond the control of
Longreach and APIC) that could cause actual events or results to differ
materially from those anticipated in the forward-looking information. Some of
the risks and other factors could cause results to differ materially from those
expressed in the forward-looking information include, but are not limited to,
the risks that the parties will not proceed with the Arrangement and associated
transactions, that the ultimate terms of the Arrangement and associated
transactions will differ from those that currently are contemplated, and that
the Arrangement and associated transactions will not be successfully completed
for any reason (including the failure to obtain the required approvals or
clearances from regulatory authorities). Industry related risks could include,
but are not limited to: operations with foreign entities; delays or changes in
plans; competition for, among other things, capital, acquisitions, skilled
personnel and supplies; governmental regulation of the oil and gas industry;
technical problems; the uncertainty of estimates and projections of costs and
expenses; unanticipated operating events or performance which can reduce
productivity; the need to obtain required approvals from regulatory authorities;
stock market volatility; liabilities inherent in oil and gas operations; access
to capital; and other factors. Readers are cautioned that this list of risk
factors should not be construed as exhaustive.  


The statements in this news release are made as of the date of this release.
Neither Longreach nor APIC undertakes any obligation to comment on analyses,
expectations or statements made by third parties in respect of either of them,
or their respective financial or operating results or (as applicable), their
securities. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pelham Bell Pottinger
Mark Antelme / Philip Dennis / Rollo Crichton-Stuart
+44 207 861 3232


APIC Petroleum Corporation
Dennis A. Sharp
Chairman and Chief Executive Officer
(416) 367-0150
(416) 367-0165 (FAX)


APIC Petroleum Corporation
John Clark
Chief Financial Officer
(416) 367-0150
(416) 367-0165 (FAX)


Longreach Oil and Gas Limited
Bryan Benitz
Chairman & Chief Executive Officer
+44 20 3137 7756

Apic Petroleum Corporation (TSXV:API)
Historical Stock Chart
From Oct 2024 to Nov 2024

Apic Petroleum Corporation (TSXV:API)
Historical Stock Chart
From Nov 2023 to Nov 2024