CALGARY, ALBERTA--(Marketwired - Dec. 18, 2014) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) ("Bonterra" or "the Company") today provides an update on the Company's position in light of recent market and industry developments. As a resource based business, Bonterra is directly impacted by changes in commodity prices, and recently has been managing through an unexpected period of significant oil price declines. Due to this rapid price erosion and extreme volatility, accurately forecasting events and price levels over the next month is difficult and even more difficult over the coming twelve month period.
In light of this uncertainty, Bonterra is taking a patient and measured approach to its corporate planning and has concluded that it will assess the ongoing situation on a monthly basis. Continuing to manage the Company's balance sheet is of prime importance and will always be the main consideration when capital expenditure budgets and dividend payouts are determined.
Supported by its high-quality asset base and conservative approach to managing these assets, in the near term Bonterra will:
Consistent with its history, Bonterra is committed to maintaining a prudent and disciplined approach during this period of uncertainty and significant price volatility. The Company's priorities remain focused on maintaining financial flexibility while positioning the Company to achieve long-term per share growth and paying out a sustainable dividend to shareholders.
Forward Looking Information
Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to: expected cash provided by continuing operations; cash dividends; future capital expenditures, including the amount and nature thereof; oil and natural gas prices and demand; expansion and other development trends of the oil and gas industry; business strategy and outlook; expansion and growth of our business and operations; and maintenance of existing customer, supplier and partner relationships; supply channels; accounting policies; credit risks; and other such matters.
All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; changes in applicable environmental, taxation and other laws and regulations as well as how such laws and regulations are interpreted and enforced; the ability of oil and natural gas companies to raise capital; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; opportunities available to or pursued by us; and other factors, many of which are beyond our control.
Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived there from. Except as required by law, Bonterra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
The forward-looking information contained herein is expressly qualified by this cautionary statement.
The TSX does not accept responsibility for the accuracy of this release.