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Vital Energy Inc. (TSXV: VUX) (the "Corporation") announces that the Corporations's 2023 Annual Financial Statements, Management's Discussion and Analysis and Forms 51-101 regarding Statement of Reserves Data and Other Oil and Gas Information have been filed on SEDAR (www.sedarplus.ca) and are also available on the Corporation's website (www.vitalenergyoil.com).
On October 25, 2023, the Corporation commenced drilling six (6) horizontal wells in the Cardium reservoir at pad 1-29-50-10W5 in the Pembina area of Alberta. The drilling, completion and production systems are now complete and initial production has tested the wells above 100bbls/d of light oil and up to 300bbls/d of light oil. The well production for the fifty (50) days since the six wells came on production has averaged 503 bbls/d of light oil for the six wells or 84 bbls/d of light oil per well.
At the close of business on April 24, 2024, Jeffrey Standen resigned as a director of the Corporation.
Vital Energy Inc. is a publicly traded junior oil and gas company ("VUX" TSXV) whose primary focus is light and medium crude oil production in Western Canada.
For further information please contact:
Yingchuan Wu, President
Tel: (403) 988-8286
Fax: (403) 699-9660
Or visit our website at:
www.vitalenergyoil.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Vital's business and the Credit Facility. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Vital's control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Vital believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Vital does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206893
