Press release from Marketwire
RMP Energy Announces Strategic Ante Creek Land Expansion
Friday, May 10, 2013
RMP Energy Announces Strategic Ante Creek Land Expansion09:00 EDT Friday, May 10, 2013
CALGARY, ALBERTA--(Marketwired - May 10, 2013) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce that the Company acquired from Paramount Resources Ltd. a total of 22.75 gross sections (16.0 net) of land in the Montney light oil fairway in the Ante Creek area of West Central Alberta, in exchange for 3.4 million common shares of RMP. The working interests in the purchased acreage range between 50% to 100%. The acquired lands are located contiguous and proximal to the Company's existing 100% working interest, six section land block at Ante Creek where RMP has had exceptional exploration and development drilling success. A map of the Ante Creek area highlighting the location of the acquired lands is available on the Company's website at www.rmpenergyinc.com.
As a result of this transaction, RMP has significantly expanded its asset 'footprint' in the area and now holds 28.75 sections (22.0 net) of land at Ante Creek. In aggregate, the Company now holds a total of 90 sections (82.4 net) of land from Grizzly, up through Waskahigan and including Ante Creek, providing for a significant light oil resource base.
RMP currently has 107.68 million common shares outstanding, including the shares issued in connection with this strategic transaction.
FOR FURTHER INFORMATION PLEASE CONTACT:
RMP Energy Inc.
President and Chief Executive Officer
RMP Energy Inc.
Vice President, Finance and Chief Financial Officer