CALGARY, March 21, 2012 /CNW/ - Calvalley Petroleum Inc. ("Calvalley" or the "Company") has resumed crude oil shipments from its Block 9 central processing facility to the Company's truck off-loading facility at Block 51.
Production operations at Hiswah and Ras Nowmah have returned to normal with production estimated in the 5,100 - 5,300 barrels per day range.
Management priorities include resuming production in the Al Roidhat field, production optimization activities at Hiswah and making preparations to start the development and exploration drilling program.
Calvalley is an international oil and gas company, with offices in Calgary, Alberta, Canada, that operates its 50% working interest in Block 9 of the Masila Basin, in The Republic of Yemen and its 100% working interest in the Metema Block of the Blue Nile Basin, in The Republic of Ethiopia.
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without limitation, financial and business prospects and financial
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intentions, growth, results of operations, performance and business
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available to management. Forward-looking statements involve significant
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forward-looking statements contained herein are based upon what
management believes to be reasonable assumptions, management cannot
assure that actual results will be consistent with these
forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Forward-looking statements and other information contained herein concerning the oil and gas industry and Calvalley's general expectations concerning this industry are based on estimates prepared by management using data from publicly available industry sources as well as from reserve reports, market research and industry analysis and on assumptions based on data and knowledge of this industry which Calvalley believes to be reasonable. However, this data is inherently imprecise, although generally indicative of relative market positions, market shares and performance characteristics. While Calvalley is not aware of any misstatements regarding any industry data presented herein, the industry involves risks and uncertainties and is subject to change based on various factors.
firstname.lastname@example.org or +1 (403) 297-0490
Edmund Shimoon, Chairman and CEO
Gerry Elms, CFO