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the Corporation’s Annual Audited Financial Statements for the year ended December 31, 2023, as required by section 4.2 of National Instrument 51-102 -Continuous Disclosure Obligations(NI 51-102”);
the Corporation’s Management Discussion Analysis for the year ended December 31, 2023, as required by section 5.1(2) of NI 51-102;
the certification of the annual filings for the year ended
December 31, 2023 ; andthe Corporation’s Statement of Reserves Data and Other Oil and Gas Information, Report on Reserves Data by Independent Qualified Reserves Evaluator, and Report of Management and Directors on Oil and Gas Disclosure for the year ended
December 31, 2023 , as required by section 2.1 of National Instrument 51-101 -Standards of Disclosure for Oil and Gas Activities.
The delay is a result of the recent changes to the officers of the Corporation. The newly appointed management team, including the new Chief Executive Officer and Chief Financial Officer, will need additional time to collect and review all necessary information to complete the Annual Filings, including working with the auditors and ensuring that Fruci has all necessary information to complete the audit, and also to be in a position to sign the certifications of the Annual Filings.
In response to the Annual Filings delay, the Corporation has applied to the
The Corporation continues to work to complete the Corporation's annual financial statements, and expects to file the Annual Filings by
Until the Corporation has filed the Annual Filings, members of the Corporation’s management and other insiders are subject to an insider trading black-out policy as per its internal Insider Trading Policy that is consistent with the principles in Section 9 of National Policy 11-207 -Failure-to-File Cease
Neither the
For further information please contact:
Chief Executive Officer
Email:jason@energyfunders.com
Telephone: 254-699-0975
Media Contact:
aquila@hitpr.com
210-606-5251
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding the filing of the Annual Filings, including the timing for the filing of the Annual Filings; and the application for a MCTO in respect of EFV. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects EFV 's current beliefs and is based on information currently available to EFV and on assumptions EFV believes are reasonable. These assumptions include, but are not limited to: the ability of EFV to complete the Annual Filings in the noted timeframe; the Management Cease
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EFV to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: volatility in market prices for oil and natural gas; constraints on sour gas production; the availability of commodity markets and third party equipment, infrastructure and services; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; geological, technical, drilling and processing availability, upsets or problems; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting EFV; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-lookinginformation can be found in EFV's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although EFV has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of EFV as of the date of this news release and, accordingly, is subject to change after such date. However, EFV expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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