Fortress Energy Reports its 2011 Results and Reserves

Fortress Energy Inc. (TSX:FEI) reported its 2011 results and reserves.

As quoted in the press release:

The Company was successful in a dispute that resulted from a reassessment of prior tax years by the Canada Revenue Agency (“CRA”) in the amount of $18,000,000. On October 26, 2011, the Company received revised notices of reassessment from the CRA indicating that CRA was vacating its claim, reversing the previous assessments resulting in no federal income taxes or penalties payable.

Click here to read the Fortress Energy Inc. (TSX:FEI) press release.