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Wilton Resources Inc.

TSXV Exchange | Aug 23, 2019, 5:18 PM EDT | Real-time price

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Wilton Resources Inc. Announces Execution of Workover Participation and Earning Agreement

Calgary, Alberta--(Newsfile Corp. - April 30, 2019) - Wilton Resources Inc. (TSXV: WIL) ("Wilton" or the "Corporation") is pleased to announce that it has entered into a workover participation and earning agreement (the "Agreement") with an Alberta oil and gas company pursuant to which the Corporation has agreed to participate in a planned workover program with respect to a well near Highvale, Alberta (the "Workover"). Upon execution of the Agreement, the Corporation paid a $10,000 signing fee. Pursuant to the Agreement, the Corporation will also pay $50,000 upon receiving a Workover notice as a fee for its participation in the Workover, and will earn a 3.833% working interest in the well subject to the Workover. The Corporation's obligations under the Agreement with respect to the Workover are subject to approval of the TSX Venture Exchange ("TSXV"), as applicable.

The Corporation's primary business objective remains its pursuit of potential acquisitions of oil and gas properties in various international locations and the Corporation continues to assess international opportunities for growth.

Forward-Looking Statements and Information and Cautionary Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the successful implementation and execution of the Workover, the approval of the TSXV, as applicable, and the Corporations' international growth strategy. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include obtaining approval of the TSXV for the Agreement, the execution of the Workover and the successful implementation of the Workover, and execution of an acceptable international acquisition. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

For more information, please contact:

Wilton Resources Inc.

Richard Anderson
Chief Executive Officer and President
(403) 619-6609

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44453

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