Cardiff Energy Corp. Signs Participation And Joint Venture Agreement
30.09.2015 | The Newswire
Vancouver, BC / TheNewswire / September 30 2015 - Cardiff Energy Corp. (the "Company") (TSX-V: "CRS", Frankfurt: "C2Z.F", US Pinksheets: "CRRDF") is pleased to announce the signing of a Participation And Joint Venture Agreement ("Agreement") with Equitorial Exploration Corp. ("Equitorial") to fund the completion of the Clayton #1H well and to help expedite the development of their Runnels County oil and gas leases in Texas.
Under the terms of the Agreement, Equitorial will purchase a 15% working interest ("WI") in the Clayton #1H for $270,000 USD from the Company and will have the opportunity to purchase a 25% WI on all future wells drilled on the Company's leases in Runnels County. This Participation and Joint Venture Agreement is subject to TSX Venture Exchange approval.
Jack Bal, President and CEO of Cardiff Energy Corp., states "we are excited to be working with Equitorial, and
are in receipt of a $100,000 deposit with the balance of their funds arriving early next week. With funds secured to complete the Clayton #1H and partner who is eager to commence a drilling program we are well positioned to finish off the year on a strong front."
The Company would also like to announce that the Participation and Joint Venture Agreement with Cache Exploration Inc. announced on September 1, 2015 has been terminated.
To learn more about the Company and the drilling of the Clayton #1H horizontal well please visit:
http://www.cardiffenergy.com/i/pdf/Runnels-County-Texas.pdf
About the Company
Cardiff is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. Cardiff is listed on the TSX Venture Exchange under the symbol CRS. For additional details please visit Cardiff's website at www.cardiffenergy.com
For additional information contact:
Jack Bal, President and CEO
604-306-5285
jackbalyvr@gmail.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jack Bal"
Jack Bal,
President and Chief Executive Officer
Neither 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.
This news release contains forward-looking statements relating to the future operations of the Company. 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 the Company, 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 the Company's expectations are exploration risks detailed from time to time in the filings made by the Company 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 the Company. 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 the Company 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 applicable securities laws.
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