CALGARY, ALBERTA -- (Marketwired) -- 04/21/17 -- Vital Energy Inc. ("Vital") (TSX VENTURE: VUX) announced today, further to its news releases dated March 31, 2017 and April 21, 2017, further details on the 4 leases acquired at the Saskatchewan Crown land sale in the Pennant Area project lands. Pursuant to its agreement with the Third Party, namely Cerus Energy Group, the amount of the first cash advance to Vital was $360,000. The lease acquisitions totaled 5,220 acres more than doubling Vital's current Pennant Area project lands and bringing the total 100% owned Pennant Area project lands to approximately 8,580 contiguous acres.
Vital Energy Inc. is a publicly traded junior oil and gas company ("VUX" TSX-V) whose primary focus is developing light and medium crude oil production in Western Canada.
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. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.
Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of Vital Energy Inc. and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Vital Energy Inc., are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Vital's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.
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 Vital. As a result, we cannot guarantee that any forward-looking statement will materialize and 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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Vital 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 Canadian securities law.
Vital Energy Inc.
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