Current Reece News August 14, 2008Reece is pleased to announce that it has received an increase to its credit facility from the Alberta Treasury Branch. Based on the strength of the previously announced mid-year update to its 2007 reserve evaluation, Reece’s credit facility has been increased from $20 million to $33 million. August 12, 2008Reece is pleased to announce that it has entered into a Joint Venture with Anterra Energy Inc. with the signing of three separate agreements. August 11, 2008Reece announces that it has priced its previously announced brokered private placement at $3.10 per common share and elected to reduce the size of the Financing to $12 million. July 25, 2008Reece is pleased to announce that it has signed a purchase and sale agreement in which it will acquire a 100% working interest in an additional 760 acres of mineral rights adjoining its existing Viking light oil play near Dodsland Saskatchewan. July 22, 2008Reece is pleased to provide the following mid-year update of its reserve evaluation dated December 31, 2007. July 17, 2008Reece is pleased to announce that it has increased its capital budget for 2008 by an additional $30 million. This increase is in addition to the $15 million dollar increase announced May of this year bringing the total capital budget for 2008 to $66 million. July 16, 2008Reece is pleased to announce that it has signed two separate farm-in agreements for land adjoining its current Dodsland Viking horizontal oil play in west central Saskatchewan. July 14, 2008Reece is pleased to provide the following operations update through the end of the second quarter of 2008. June 6, 2008Reece is pleased to announce that its first exploratory Bakken well has been successfully tested for oil. June 3, 2008Reece announces that it has released its first quarter 2008 results and management’s discussion and analysis. In addition, Reece would like to announce the following highlights from the first quarter. May 29, 2008Reece is pleased to announce that it is raising its capital budget for 2008 by $15 million. This decision was based on the encouragement brought forth by successful drilling results, as well as higher than expected commodity prices. May 22, 2008Reece has completed drilling operations on the sixth Viking extended reach horizontal oil well in their Dodsland field near Kindersley Saskatchewan. All six wells were successful and are in various stages of completion or on production. May 5, 2008Reece is pleased to announce that the Alberta Treasury Branch has increased Reece’s credit facility from $13 million to $20 million. May 1, 2008Reece is pleased to announce that on April 30, 2008 it closed its previously announced $7.5 million equity financing. April 22, 2008Reece is pleased to announce that the brokered private placement financing announced on April 4, 2008. |
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