Relentless Resources Announces Filing of 3rd Quarter Financial Statements
November 29 2013 - 6:47PM
Marketwired
Relentless Resources Announces Filing of 3rd Quarter Financial
Statements
CALGARY, ALBERTA--(Marketwired - Nov 29, 2013) - Relentless
Resources Ltd. ("Relentless" or "the Company") (TSX-VENTURE:RRL)
announces that it has filed its unaudited condensed interim
financial statements for the three and nine month periods ended
September 30, 2013, and the accompanying management's discussion
and analysis, such filings available on SEDAR at www.sedar.com.
Since the closing of the asset exchange in June 2013, Relentless
has conducted a systematic review of the assets acquired in June of
2013 and plans to execute a number of well recompletions over the
next six to twelve months. The actual type and number of
recompletions will be determined by the results of the initial two
or three operations. In addition to the recompletions, Relentless
is actively pursuing farm out opportunities on portions of its
approximately 85 sections of land acquired in the asset
exchange.
The acquired assets have increased total corporate production,
lowered operating expenses and increased corporate netbacks.
Relentless plans to grow by taking advantage of the financial
strength the Company has established.
About Relentless Resources Ltd.
Relentless is a Calgary based emerging oil and natural gas
company, engaged in the exploration, development, acquisition and
production of natural gas and light gravity crude oil reserves in
Alberta. Relentless' common shares trade on the TSX Venture
Exchange under the symbol RRL.
Relentless' primary corporate objective is to achieve
non-dilutive growth and enhance shareholder value through internal
prospect development, strategic production acquisitions and prudent
financial management.
Neither 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.
Forward-Looking Statements: All statements, other than
statements of historical fact, set forth in this news release,
including without limitation, assumptions and statements regarding
the financial results, and future plans, operations and objectives
of the Company are forward-looking statements that involve
substantial known and unknown risks and uncertainties. Some of
these risks and uncertainties are beyond management's control,
including but not limited to, the impact of general economic
conditions, industry conditions, fluctuation of commodity prices,
fluctuation of foreign exchange rates, environmental risks,
industry competition, availability of qualified personnel and
management, availability of materials, equipment and third party
services, stock market volatility, timely and cost effective access
to sufficient capital from internal and external sources. The
reader is cautioned that assumptions used in the preparation of
such information, although considered reasonable by the Company at
the time of preparation, may prove to be incorrect. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
These assumptions and statements necessarily involve known and
unknown risks and uncertainties inherent in the oil and gas
industry such as geological, technical, drilling and processing
problems and other risks and uncertainties, as well as the business
risks discussed in Management's Discussion and Analysis of the
Company under the heading "Risk Factors and Risk Management". The
Company does not undertake any obligation, except as required by
applicable securities legislation, to update publicly or to revise
any of the included forward-looking statements, whether as a result
of new information, future events or otherwise.
Relentless Resources Ltd.Dan WilsonPresident & CEO(403) 532
- 4466 ext. 227 or Mobile: (403) 874 - 9862(403) 303 -
2503dwilson@relentless-resources.comwww.relentless-resources.com
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