Bow Energy Signs Definitive Agreement with Petrolia Energy

Bow Energy Signs Definitive Agreement with Petrolia Energy

 

Not for distribution in the United States or through United States wire services

Calgary, Alberta (FSCwire) - Further to Bow Energy Ltd.’s (“Bow or the Company”) (ONG:TSXV) press releases dated October 25, 2017 October 26, 2017  Bow is pleased to announce that the Company and Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) have signed a definitive agreement for Petrolia to acquire Bow.

 

The Agreement sets out the terms and conditions pursuant to which Petrolia will acquire through an all-stock transaction the entire issued and outstanding common shares of Bow.  Bow will distribute the common shares of Petrolia it receives to Bow shareholders who will receive shares of Petrolia on the basis of 1.15 Petrolia shares for each common share held in Bow.  Bow warrant holders will be entitled to receive, upon exchange of their securities, the equivalent number of Petrolia warrants.

 

Following the completion of the Arrangement, Bow will be a wholly owned subsidiary of Petrolia.

 

Bow will issue an information circular and hold a shareholder meeting to approve the transaction.

 

Upon completion of the transaction, Bow will be delisted from the TSXV.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy12072017.pdf


Definitive Arrangement Agreement Executed for Petrolia Energy's Acquisition of Bow Energy

HOUSTON, TX--(Marketwired - December 05, 2017) - Further to the press release dated October 26, 2017, Petrolia Energy Corporation (OTCQB: BBLS) ("Petrolia" or the "Company") is pleased to announce it has executed a Definitive Binding Arrangement Agreement (the "Agreement") with Bow Energy Ltd. ("Bow") (TSX VENTURE: ONG). Bow Energy Ltd. is a Canadian based oil and natural gas company trading on the TSX Venture Exchange holding over 948,000 net acres onshore North Sumatra, Indonesia which is one of the world's most prolific oil and gas basins. Bow's acreage consists of interests in five production-sharing contracts (PSCs) and one Joint Study Agreement (JSA) with the Indonesian government. The assets are close to existing infrastructure and the city of Medan which is the largest city in North Sumatra.

The Agreement sets out the terms and conditions pursuant to which Petrolia will acquire through an all-stock transaction the entire issued and outstanding common shares of Bow. Bow will distribute the common shares of Petrolia it receives to Bow shareholders on the basis of 1.15 Petrolia shares for each common share held in Bow. Bow warrant holders will be entitled to receive, upon exchange of their securities, the equivalent number of Petrolia warrants. Following the completion of the Arrangement, Bow will be a wholly owned subsidiary of Petrolia.

James Burns, President of Petrolia, commented:

"We are delighted to have concluded this agreement with Bow which has a portfolio of high quality strategically located natural gas projects in North Sumatra. We believe the value of Bow's projects has not been fully recognized by the TSX-V market and is a significant growth opportunity for Petrolia."

The Arrangement will be implemented by way of a Plan of Arrangement under the Business Corporations Act (British Columbia) and is subject to a number of potential conditions.

More information about Petrolia is available at www.petroliaenergy.com

Forward-looking Statements

Certain information in this press release constitutes forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements regarding well production, use of proceeds, future drilling, operating expenses, and additional funding. Any statement that does not contain a historical fact may be deemed to be a forward-looking statement. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology, although not all forward-looking statements contain such identifying words.

Forward-looking statements are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the Company's control, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks, and uncertainties include, among others, those associated with exploration activities, oil and gas production, marketing and transportation, costs of operations, loss of markets, volatility of oil and gas prices, reserve and future production estimates, environmental risks, competition, inability to access sufficient capital from internal and external sources, general economic conditions, litigation, and changes in regulation and legislation. Readers are cautioned that the foregoing list is not exhaustive.

Additional information on these and other factors that could affect Petrolia's operations or financial results is available by contacting Petrolia. The forward-looking statements contained in this press release are made as of the date of this press release, and Petrolia does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by applicable law.

Petrolia Energy Corporation (OTCQB: BBLS) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

For more Information contact:
Investor Relations Contact:
IR@PetroliaEnergy.com 
www.PetroliaEnergy.com

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Correcting and Replacing: Bow Energy Ltd. Receives Acquisition Offer from Petrolia Energy Corporation

 

Not for distribution in the United States or through United States wire services.

 

Calgary, Alberta (FSCwire) - This press release replaces the press release disseminated October 25, 2017 at 4:38 PM ET. The press release contained incorrect information in the second paragraph. The corrected press release is below:

 

On October 25, 2017 Bow Energy Ltd. (“Bow or the Company”) (ONG:TSXV) issued a press release announcing that it has received a non-binding proposal from Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) for the acquisition of the outstanding shares of Bow.  Petrolia has offered to acquire 100% of the shares of Bow outstanding by issuing shares of Petrolia in exchange for the Bow.  Bow shareholders will receive 1.15 shares of Petrolia for each Bow share held.    

 

Bow and Petrolia have signed a non-binding Letter of Intent which is subject to various conditions including completion of due diligence and board of director approval.  Upon completion of due diligence, the parties will move to sign a formal binding agreement subject to customary shareholder and stock exchange approvals as may be required.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy10272017_0.pdf

Source: Bow Energy Ltd. (TSX Venture:ONG)

 



Bow Energy Ltd. Receives Acquisition Offer from Petrolia Energy Corporation

Not for distribution in the United States or through United States wire services.

Calgary, Alberta (FSCwire) - Bow Energy Ltd. (“Bow or the Company”) (ONG:TSXV) is pleased to announce that it has received a non-binding proposal from Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) for the acquisition of the outstanding shares of Bow.  Petrolia has offered to acquire 100% of the shares of Bow outstanding by issuing shares of Petrolia in exchange for the Bow shares on terms to be determined following completion of due diligence by Petrolia on the business of Bow.    

Bow and Petrolia have signed a non-binding Letter of Intent which is subject to various conditions including completion of due diligence and board of director approval.  Upon completion of due diligence, the parties will move to sign a formal binding agreement subject to customary shareholder and stock exchange approvals as may be required.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Bow Energy Ltd.
Mohammad Fazil, President and CEO
Telephone: +1 (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 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.

To view this press release as a PDF file, click onto the following link:

public://news_release_pdf/BowEnergy10252017.pdf

 



Friday, August 25, 2017 - 5:23pm

 

Bow Energy Ltd. Announces Officer and Director Resignation

Not for distribution in the United States or through United States wire services.

Calgary, Alberta (FSCwire) - Bow Energy Ltd. (ONG:TSX-V) (“Bow or the Company”) announces that Aqeel Virk has resigned as an officer and director of Bow Energy, effective immediately, to pursue personal business ventures.  Mr. Virk was the Vice President of Commercial and Business Development. 

 

The Company would like to thank Mr. Virk and wishes him well in his future endeavours.

About Bow Energy Ltd.

Bow Energy owns various interests in five Production Sharing Contracts and one Joint Study Agreement all located onshore North Sumatra, Indonesia.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad (Mo) Fazil, President and CEO

Telephone: +1 (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of ACL. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and ACL does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.

 

Source: Bow Energy Ltd. (TSX Venture:ONG)

 



Bow Energy Ltd. Announces Management Changes
Not for distribution in the United States or through United States wire services.

Calgary, Alberta (FSCwire) - Bow Energy Ltd. ("Bow or the Company";) (BBLS:TSXV) announces that it has changed its trading symbol to ONG.  This was done in order to avoid confusion with an OTC issuer whose symbol is the same as the Company’s symbol.   There is no consolidation of capital.

Effective at the opening on Friday, June 9, 2017, the common shares of Bow Energy Ltd. will commence trading on TSX Venture Exchange, under the new symbol, ONG.  The Company is classified as an ‘Oil & Gas’ Company.

Capitalization:  

Unlimited shares with no par value of which 92,310,184 shares are issued and outstanding 

 Transfer Agent: CST Trust Company 

CUSIP Number: 10214R101 (Unchanged) 

 Trading Symbol: ONG (NEW

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Bow Energy Ltd.
Mohammad Fazil, President
Telephone: +1 (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Bow06082017.pdf

Source: Bow Energy Ltd. (TSX Venture:BBLS)

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Bow Energy Ltd. Announces Management Changes

Not for distribution in the United States or through United States wire services.

Calgary, Alberta (FSCwire) - Bow Energy Ltd. (“Bow or the Company”) (BBLS:TSXV) is pleased to announce changes to its management team.

Sarshar Ahmad, who was previously Bow’s Vice President Exploration has been appointed as the Company’s Chief Executive Officer which post was held by Mo Fazil.  Mr. Fazil will continue as the Company’s President and Director.  Mr. Ahmad has 20+ years of experience in the oil and gas industry.  Most of his career was spent at Canadian Natural Resources.  He has extensive experience in acquisition, evaluation and development of exploration blocks.  His diversified experience also includes evaluation and development of unconventional and tight sand reservoirs. He has used his geological expertise in drilling operations and integration of new technology to improve efficiency of operations.  Mr. Ahmad has a Masters in Geology from Punjab University, Pakistan and Masters in Geochemistry from the University of Oslo, Norway. Shale gas, shale oil and tight sand reservoirs

Robert Richardson has been appointed the Bow’s Vice President Exploitation.  Mr. Richardson has over 20 years of energy experience in oil and gas development, reservoir engineering, acquisitions, operations and drilling. His diversified experience includes conventional oil & gas, secondary, tertiary & thermal recovery, shale oil and gas and renewable energy. Rob’s leadership has been seen in projects such as managing the development of Canadian Natural Resource’s Pelican Lake field from pilot to becoming one of the largest polymer floods in the world. He has also worked for Exxon Mobil, Baytex Energy, and Petrobank Energy. He has a B.Sc. Engineering from the University of Alberta, a Masters Degree in Energy Business and an Engineering Science Technology Diploma from SAIT. He is a member of APEGA and Beta Gamma Sigma.

Mansoor Anjum has been appointed Bow’s Vice President Finance.  He was previously the Company’s Indonesia Liaison Manager.  Mr. Anjum is a business executive with experience in project management and business development and has worked in the oil and gas industry for over 20 years. He has worked in both upstream and downstream sectors of the industry and has significant experience in acquiring and operating projects in Indonesia since 1995. Mr. Anjum is a Director of Georox Resources Inc., a TSXV company. He holds an MBA degree from the University of Toronto with a focus in strategy and finance.

Bow’s President Mo Fazil stated, “With the addition of seasoned veterans to our management team, the Company is well positioned to exploit our exciting assets in Indonesia.”

On May 24, 2017, the Company acquired additional conventional and non-conventional PSCs and a non-conventional Joint Study Agreement, all located onshore Sumatra, Indonesia.  These assets complement the company’s existing onshore Sumatra asset known as South Block A.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Bow Energy Ltd.

Mohammad Fazil, President

Telephone: +1 (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/bowenergy05312017.pdf


Wednesday, May 24, 2017 - 5:08pm

Bow Energy Ltd. Announces Closing of Indonesia Acquisition

Not for distribution in the United States or through United States wire services.

Calgary, Alberta (FSCwire) - Further to the press release dated May 17, 2017, Bow Energy Ltd. (“Bow or the Company”) (BBLS:TSXV) is pleased to announce the closing of its corporate acquisitions from Bukit Energy Inc. (“Bukit”), a private Canadian company.  The corporate acquisitions result in Bow acquiring interests in four Production Sharing Contracts (“PSCs”) and one non-conventional joint study agreement (“JSA”), all interests are located onshore in Sumatra, Indonesia. The Company’s wholly owned subsidiary, Bow Energy International Holdings Ltd. (“BEIH”), acquired all of Bukit’s shareholding interests (the “Subsidiary Shares”) in five of its wholly-owned Singapore holding companies (the “Holding Companies”) that own the interests.

The Holding Companies being acquired by BEIH own the following interests in the conventional and non-conventional PSCs and non-conventional JSA:

♦  Drill ready step-out location with resource potential of 41 BCF & 3 MMBC

♦  Area of JSA underlies the Bohorok PSC and adjacent to Pertamina’s non-conventional PSC

♦  Several light oil play trends, shallow and deep analogues in surrounding PSC’s with prolific production

♦  Area underlies conventional PSC

♦  2 drill ready locations adjacent to producing fields

All of the interests are adjacent to producing oil and gas fields and near existing infrastructure.  Producers are selling gas at an average sale price of $8 per mcf.  Oil sales are based on moving average spot price of a basket of eight internationally traded Indonesian crudes, closely mirroring Brent.

Under the terms of the SPA, the Company shall pay in the aggregate approximately USD$1.834 Million in cash, inclusive of working capital adjustments and outstanding receivables for the Subsidiary Shares.

Bow’s President Mo Fazil stated, “With this strategic acquisition, in addition to the exciting South Block A PSC interest of Bow (44.48% operated working interest, 104,031 net acres), the Company is well positioned in the prolific Sumatra basin to carry out its drilling activity targeting stacked reservoirs. Bow’s immediate focus is to drill appraisal wells on South Block A and Bohorok PSC’s and to subsequently apply for Plans of Development with the Indonesian Government, concurrent with furthering our exploration activities across our portfolio.  With this acquisition, Bow’s total net acreage has increased to 1,240,169 acres, containing numerous leads and prospects, providing us a large land base to explore and develop in one of the most prolific oil and gas producing regions of the world.”

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Bow Energy Ltd. Mohammad Fazil,

President and CEO

Telephone: +1 (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Bow05242017.pdf

Source: Bow Energy Ltd. (TSX Venture:BBLS)

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Wednesday, May 17, 2017 - 1:28 PM EDT

Bow Energy Ltd. Announces the Acquisition of Four Production Sharing Contracts Onshore Sumatra, Indonesia

Not for distribution in the United States or through United States wire services.


Calgary, Alberta (FSCwire) - Bow Energy Ltd. (“Bow or the Company”) (BBLS:TSXV) is pleased to announce that, through its wholly owned subsidiary, Bow Energy International Holdings Ltd. (“BEIH”), it has entered into a Share Purchase Agreement (“SPA”) with Bukit Energy Inc. (“Bukit”), a private Canadian company, and various subsidiaries of Bukit, to acquire all of Bukit’s shareholding interests (the “Subsidiary Shares”) in five of its wholly-owned Singapore holding companies (the “Holding Companies”) that own interests in four onshore Indonesian PSCs and an interest in one onshore Indonesian unconventional joint study agreement. 

 

The Holding Companies being acquired by BEIH include Bukit Energy Central Sumatra (Mahato) Pte. Ltd. that is subject to a security registration in Singapore being discharged concurrently with the closing of the SPA. 

 

Under the terms of the SPA, the Company shall pay in the aggregate approximately USD$1.834 Million in cash, inclusive of working capital adjustments and outstanding receivables for the Subsidiary Shares.  Completion date for the transaction is anticipated to be May 23, 2017.  The SPA is subject to regulatory approval.

 

The Company also announces that the Langsa TAC expired on May 14, 2017 and was not renewed by the Indonesian government.  Bow is expecting to receive the final payment for oil sales from Pertamina in August 2017.

 

About Bow Energy Ltd.

 

Bow’s existing Indonesian oil and gas asset is a 44.48% net working interest in South Block A, an onshore block located in North Sumatra.  Bow’s subsidiary Renco Elang Energy Pte. Ltd. is the operator of South Block A.  The North Sumatra basin is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields.  Bow’s subsidiary Renco Elang Energy Pte. Ltd. is the operator of South Block A.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy05172017.pdf

Source: Bow Energy Ltd. (TSX Venture:BBLS)

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BOW ENERGY LTD. ANNOUNCES

APPOINTMENT OF SARSHAR AHMAD AS VICE PRESIDENT EXPLORATION

AND ISSUANCE OF STOCK OPTIONS TO MANAGEMENT

 For Immediate Release

Not for distribution in the United States or through United States wire services.

Calgary, Alberta – April 3, 2017. Bow Energy Ltd. (“Bow or the Company”) (BBLS:TSXV) is pleased to announce that its wholly owned subsidiary, Bow Energy Pte. Ltd., has appointed Mr. Sarshar Ahmad as Vice President Exploration, effective April 3, 2017.

Sarshar Ahmad is an explorationist with over 20 years of experience in the upstream oil and gas industry.  He was an integral part of the exploration and development team at Canadian Natural Resources Ltd.  Mr. Ahmad brings with him extensive experience in the acquisition, evaluation and assessment of exploration blocks and development plays, geological expertise in drilling operations and integration of new technology to improve efficiency of oil and gas upstream operations.  Mr. Ahmad has Masters degree in Geology from the University of Oslo.

The Corporation has granted an aggregate of 2,100,000 incentive stock options under its stock option plan to Mr. Sarshar Ahmad, Mr. Alexander McAulay (Chief Financial Officer) and Mr. Robert Tjandra (Director).  Each option entitles the holder thereof to purchase one Common Share in the capital of Bow for a period of five years at a price of $0.12 per share.  The stock options are not transferrable. The common shares issued upon exercise of the stock options will be subject to a four month resale restriction from the date of grant.

 

About Bow Energy Ltd.

Bow’s two Indonesian oil and gas assets are: (a) 50% net working interest in Langsa TAC, an offshore field with production from 2 wells; and (b) through its subsidiary Renco Elang Energy Pte. Ltd., a 44.48% net working interest in South Block A, an onshore block located in North Sumatra.  The North Sumatra basin is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields.  Bow’s subsidiary Renco Elang Energy Pte. Ltd. is the operator of South Block A.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.  

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.  

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.



 

ACL INTERNATIONAL LTD. NAME CHANGE TO BOW ENERGY LTD.

 

 

For Immediate Release

Not for distribution in the United States or through United States wire services.

 

Calgary, Alberta – February 14, 2017. ACL International Ltd. (ACL:TSX-V) (“ACL or the Company”) wishes to announce to a resolution passed by shareholders of the Company at the annual meeting (the "Meeting") held on December 22, 2016, and as described in more detail in the management information circular of the Company dated November 24, 2016, the Company has changed its name to Bow Energy Ltd.  There is no consolidation of shares of the Company.

 

Effective at the opening of trading on Wednesday, February 15, 2017, the common shares of Bow Energy Ltd. will commence trading on the TSX Venture Exchange. The common shares of ACL International Ltd. will be delisted.

 

The new trading symbol and CUSIP Number are below:

Trading Symbol:          BBLS

CUSIP Number:          10214R101

 

The company’s new website will be www.bowenergy.ca.

 

About ACL International Ltd.

 

ACL’s two Indonesian oil and gas assets are: (a) 50% net working interest in Langsa TAC, an offshore field with production from 2 wells; and (b) through its subsidiary REE, a 44.48% net working interest in South Block A, an onshore block located in the North Sumatra Basin, which is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields.  ACL’s subsidiary Renco Elang Energy Pte. Ltd. is the operator of South Block A.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ACL International Ltd.

Mohammad (Mo) Fazil, President and CEO Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, because of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of ACL. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and ACL does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.

 



ACL INTERNATIONAL LTD.  SOUTH BLOCK A PSC 4 YEAR EXTENSION
 
 
For Immediate Release  Not for distribution in the United States or through United States wire services.    Calgary, Alberta – January 27, 2017.   ACL International Ltd. (ACL:TSX-V) (“ACL or the Company”) is pleased to announce that the Indonesian regulatory authority BPMA has granted an additional 4-year extension to the exploration term for South Block A.  ACL’s subsidiary Renco Elang Energy (“REE”) is the operator of (“SBA”).  
 
The extension is effective as of January 19, 2017 and was granted following the drilling of the Amanah Timur-1 discovery well.  This completed the work commitments for the block.  Following the extension, REE is reviewing results from the discovery to identify commercialization options and work towards filing a Plan of Development for approval by the regulatory authority.  The remaining area of the SBA PSC is now 421 km2.  REE has selected the remaining area to ensure remaining acreage contains previously identified prospects and leads.
 
The work program for the new extension is comprised of 50 km2 of 3D seismic and drilling of 3 wells.  After 2 years, the regulator will review progress on the block.  During that time the work commitment requires REE and its partner to either complete the work program or submit a Plan of Development.  Failure to meet either target may result in expiry of the PSC, without financial penalty.   About ACL International Ltd.
 
ACL’s two Indonesian oil and gas assets are: (a) 50% net working interest in Langsa TAC, an offshore field with gross production of 870 bopd; and (b) through its subsidiary REE, a 44.48% net working interest in SBA, an onshore block located in the North Sumatra Basin, which is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields.  ACL’s subsidiary Renco Elang Energy Pte. Ltd. (“REE”) is the operator of SBA.
 
FOR FURTHER INFORMATION, PLEASE CONTACT: 
 
ACL International Ltd.  Mohammad (Mo) Fazil, President and CEO  Telephone: +1 (403) 613-7310 
 
Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially
from those predicted, because of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of ACL. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. 
 
The forward-looking statements contained in this press release are made as of the date of this press release, and ACL does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law. 
 
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. 
 
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.