Realm Energy Announces Joint Participation With ConocoPhillips in Paris Basin
July 15 2011 - 9:00AM
Marketwired
Realm Energy International Corporation ("Realm Energy") or the
("Company") (TSX VENTURE: RLM) (www.realmenergy.ca) is pleased to
announce it has entered into a farmout agreement with
ConocoPhillips to conduct joint exploration activities in the Paris
Basin, France.
Realm Energy has made applications for exploration licenses for
1.65 million acres in the Paris Basin. The applications comprise
nine separate exploration permits and include all rights to explore
for oil & gas in all formations underlying the lands. The time
frame for making applications for the licenses has ended.
Realm Energy has entered into a farmout agreement (the "Farmout
Agreement") with ConocoPhillips for the purpose of conducting joint
exploration activities on selected exploration licenses that may be
awarded as a result of these applications. The Farmout Agreement
provides Realm Energy with a limited carry on exploration
expenditures and financial incentives conditional on acreage
acquired and activity levels permitted by the Government. Realm
Energy will be the designated operator for the initial exploration
phase; ConocoPhillips has the option to operate thereafter. The
Farmout Agreement is conditional on the final award to Realm Energy
of permits for a portion of the lands in the Paris Basin, and
government approval of the joint participation of Realm Energy and
ConocoPhillips.
Craig Steinke, Chief Executive Officer of Realm Energy, stated,
"ConocoPhillips brings a wealth of experience in oil & gas
operations as well as a high level of health, safety and
environmental standards. Realm Energy is looking forward to working
with ConocoPhillips on joint operations in France and having a long
and successful partnership."
Exploration activities in the Paris Basin are currently
restricted by the Government of France so as to prohibit hydraulic
fracturing as part of the petroleum exploration and development
process. In connection with their joint exploration activities,
Realm Energy and ConocoPhillips will comply fully with all relevant
legislation governing petroleum operations in France.
About Realm Energy
Realm Energy is a Canadian domiciled global energy company
focused on driving the exploration and development of major shale
plays throughout Europe and emerging countries. The Company
presently has projects in Poland and Germany and is in the process
of acquiring additional petroleum and natural gas rights in other
European basins which have been identified as high potential. Realm
Energy is committed to leveraging the most advanced shale
technology to bring these resources into production. Visit Realm
Energy's website at www.realmenergy.ca.
REALM ENERGY INTERNATIONAL CORPORATION
Craig Steinke, Executive Chairman & CEO
Forward-Looking Statements: This document contains certain
forward-looking statements concerning Realm Energy, as well as
other expectations, plans, goals, objectives, information or
statements about future events, conditions, results of operations
or performance that may constitute "forward-looking statements" or
"forward-looking information" under applicable securities
legislation. Such statements or information involve substantial
known and unknown risks and uncertainties, certain of which are
beyond Realm Energy's control, including general business,
economic, competitive, political and social uncertainties; the
delay or failure to receive regulatory approvals, including rights
to lands under application, the characteristics and viability for
gas development on lands that have yet to be fully explored and
assessed, the willingness of third parties to conclude agreements
with Realm Energy on terms that are acceptable to management of
Realm Energy, and the ability of Realm Energy to secure sufficient
future funding to carry out all of its business plans.
Such forward-looking statements or information are based on a
number of assumptions which may prove to be incorrect. In addition
to other assumptions identified in this news release, assumptions
have been made regarding, among other things, commodity prices,
operating conditions, capital and other expenditures, and project
development activities.
Although Realm Energy believes that the expectations reflected
in such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward-looking statements
because Realm Energy can give no assurance that such expectations
will prove to be correct. Forward-looking statements or information
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by Realm
Energy and described in the forward-looking statements or
information.
The forward-looking statements or information contained in this
news release are made as of the date hereof and Realm Energy
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise unless so required by
applicable securities laws or the TSX Venture Exchange. The
forward-looking statements or information contained in this news
release are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell, nor
the solicitation of an offer to buy, any securities in the United
States, nor shall there be any sale of securities mentioned in this
press release in any state in the United States in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Corporate Enquiries: Kevin Rathbun Chief Financial
Officer 604.637.4974 ext. 33 info@realmenergy.ca Investor
Relations: Keir Reynolds Director of Investor Relations
778-998-9242 keir@realmenergy.ca www.realmenergy.ca Media Contact:
Curve Communications Amanda Bates 604.684.3170 ext. 112 / C:
604.306.0027 amanda@curvecommunications.com
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