Pulse Oil Corp. Proposes Extension of Warrants and Updates Operations
Pulse Oil Corp. Proposes Extension of Warrants and Updates Operations
VANCOUVER, British Columbia, May 01, 2023 (GLOBE NEWSWIRE) -- Pulse Oil Corp., ("Pulse" or the "Company") (TSX-V: PUL) is pleased to announce that, subject to TSX Venture Exchange ("TSXV") approval, the Company intends to extend the expiry dates of 211,870,000 outstanding share purchase warrants, (the "Warrants") by 6 months, to November 16, 2023 (the "Warrant Extension"). The Warrants were issued pursuant to a private placement announced on February 17, 2022 and accepted for filing by the TSXV on May 16, 2022. Each Warrant is exercisable to purchase one common share of Pulse at $0.065 per share and are currently set to expire on May 16, 2023. All other terms of the Warrants, including the exercise price, will remain unchanged. Upon receipt of the approval of the TSXV of the Warrant Extension, a material change report in respect of the Warrant Extension will be filed by the Company. As the Warrants currently expire on May 16, 2023 and the date of receipt of TSXV approval (if granted) is unknown, the material change report may be filed less than 21 days before the Warrant Extension occurs.
不列顛哥倫比亞省溫哥華，2023年5月1日（GLOBE NEWSWIRE）——Pulse Oil Corp.（“Pulse” 或 “公司”）（多倫多證券交易所股票代碼：PUL）欣然宣佈，經多倫多證券交易所風險投資交易所（“多倫多證券交易所”）批准，公司打算將211870,000份未償股票購買權證（“認股權證”）的到期日延長6個月，至2023年11月16日（延長逮捕令“)。認股權證是根據2022年2月17日宣佈的私募發行的，並於2022年5月16日被多倫多證券交易所接受申報。每份認股權證均可行使以每股0.065美元的價格購買一股Pulse普通股，目前定於2023年5月16日到期。認股權證的所有其他條款，包括行使價，將保持不變。收到多倫多證券交易所對認股權證延期的批准後，公司將提交有關認股權證延期的重大變更報告。由於認股權證目前將於2023年5月16日到期，並且收到多倫多證券交易所批准（如果獲得批准）的日期未知，因此重大變更報告可能在認股權證延期前不到21天提交。
A total of 149,000,000 of the affected Warrants are held by parties considered to be "related parties" of the Company under Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions ("MI 61-101"). Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by MI 61-101 and TSXV Policy 5.9 – Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon by the Company in respect of this matter as the fair market value of the Warrants held by "interested parties" (as defined in MI 61-101) does not exceed 25% of the market capitalization of the Company as determined under MI 61-101.
根據特別交易中保護少數股東的多邊文書61-101（“MI 61-101”），受影響的認股權證中共有149,000,000份由被視爲公司 “關聯方” 的各方持有。因此，正如MI 61-101和TSXV政策5.9——在特殊交易中保護少數股東所設想的那樣，認股權證的修訂構成 “關聯方交易”。但是，在此問題上，公司可以依賴這些指導方針規定的正式估值和少數股權批准要求的豁免，因爲 “利益相關方”（定義見MI 61-101）持有的認股權證的公允市場價值不超過MI 61-101確定的公司市值的25％。
EOR Operational Advancements:
EOR 運營方面的進步：
Pulse has injected approximately 5550 m3 of solvent into the first of its two pinnacle reef reservoirs (Nisku D) as of April 25, 2023 and will continue to inject solvent on a go forward basis as planned in order to increase recovery rates and oil and gas production within Pulse's 100% owned Bigoray field.
截至2023年4月25日，Pulse已向其兩個尖峯珊瑚礁儲層（Nisku D）中的第一個注入了約5550立方米的溶劑，並將繼續按計劃注入溶劑，以提高Pulse100％擁有的比戈雷油田的回收率和石油和天然氣產量。
- Pulse's solvent contract with a large mid-stream company (the "Solvent Supplier") expired on March 31, 2023 and Pulse has secured a continued supply of solvent with the same Solvent Supplier from April 1, 2023 to March 31, 2024 with savings of approximately 15% per m3 of solvent purchased going forward.
- Pulse is now taking a number of steps to optimize the forecasted timing for increased oil production, resulting from a successful solvent flooding process. Currently, Pulse plans to implement the following operations:
- Convert an existing shut-in well to a producing well in order to enhance the growth of oil and gas production over time as Pulse's solvent injection continues, increasing the solvent bank and sweeping it through the Nisku D pinnacle reef.
- Workover a current producer within the Nisku D pool in order to test its potential as a second injection well and determine its potential to increase the current rate of solvent injection into the Nisku D pool.
- If the solvent injection test noted above returns positive results, Pulse will convert this well into a full-time solvent injector in the Nisku D pool.
- Pulse is in the process of acquiring an existing water disposal well from an arms-length party at no cost that will be able to dispose of additional produced water. Oil and water will be produced simultaneously during the solvent flood and additional water disposal capacity equates to additional oil production capacity.
- Convert an existing shut-in well to a producing well in order to enhance the growth of oil and gas production over time as Pulse's solvent injection continues, increasing the solvent bank and sweeping it through the Nisku D pinnacle reef.
- Pulse will continue to identify other opportunities to further optimize the Bigoray EOR project and will constantly monitor the operations to determine if any additional operations will cost-effectively enhance the timing of production growth and overall recovery of the Bigoray EOR project.
- Pulse 與一家大型中游公司（“溶劑供應商”）的溶劑合同於 2023 年 3 月 31 日到期，Pulse 已確保從 2023 年 4 月 1 日到 2024 年 3 月 31 日持續向同一家溶劑供應商供應溶劑，未來每購買一立方米溶劑可節省約 15%。
- Pulse現在正在採取多項措施來優化石油產量增加的預測時機，這是成功的溶劑氾濫過程所導致的。目前，Pulse計劃實施以下操作：
- 隨着Pulse持續注入溶劑，增加溶劑庫並將其橫掃Nisku D尖峯礁，將現有的封閉井改爲生產井，以隨着時間的推移促進石油和天然氣產量的增長。
- 在Nisku D池中對當前的生產商進行研究，以測試其作爲第二口注入井的潛力，並確定其提高目前向Nisku D池注入溶劑的速度的潛力。
- 如果上述溶劑注入測試得出陽性結果，Pulse 會將這口井轉換爲 Nisku D 池中的全職溶劑注入器。
- Pulse正在免費從一方手中收購一口現有的水處理井，該井將能夠處置額外的產水。在溶劑氾濫期間，石油和水將同時產生，額外的水處理能力等於增加石油生產能力。
- 隨着Pulse持續注入溶劑，增加溶劑庫並將其橫掃Nisku D尖峯礁，將現有的封閉井改爲生產井，以隨着時間的推移促進石油和天然氣產量的增長。
- Pulse將繼續尋找其他機會，進一步優化Bigoray EOR項目，並將持續監控運營情況，以確定是否有任何額外的運營會以具有成本效益的方式加快Bigoray EOR項目的產量增長和整體復甦時間。
About Pulse
關於《脈衝》
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse's total reclamation liabilities are less than $3 million which, when compared to many peers in the industry in Western Canada, are very low.
Pulse是一家根據《商業公司法》（艾伯塔省）註冊成立的加拿大公司，主要專注於位於加拿大艾伯塔省中西部的100％工作利益增強型石油項目。該項目包括兩個已建成的尼斯庫尖頂礁石儲層，這些水庫生產低質輕質原油已有40多年。該公司計劃制定一種行之有效的回收方法（液化天然氣溶劑注入），以進一步提高這兩個經過驗證的油池的最終石油採收率。迄今爲止，Pulse已回收了不到1000萬桶石油，相當於石油儲備的回收率約爲30％，正在着手執行EOR項目，爲股東釋放巨大價值。Pulse的回收負債總額不到300萬美元，與加拿大西部該行業的許多同行相比，這非常低。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商（該術語在多倫多證券交易所風險投資交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
For further information contact:
欲瞭解更多信息，請聯繫：
Pulse Oil Corp.
脈衝石油公司
Garth Johnson
CEO
604-306-4421
garth@pulseoilcorp.com
加思·約翰遜
首席執行官
604-306-4421
garth@pulseoilcorp.com
Drew Cadenhead
Director
drew@pulseoilcorp.com
德魯·卡登黑德
導演
drew@pulseoilcorp.com
Forward Looking Statements:
前瞻性陳述：
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. In this news release, such statements include but are not limited to Pulse's proved and probable reserves, Pulse's operations and its oil and gas resources. 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.
本新聞稿包含適用的加拿大證券立法所指的 “前瞻性信息”。除歷史事實陳述外，此處包含的所有陳述均爲前瞻性信息。在本新聞稿中，此類聲明包括但不限於Pulse的探明和可能儲量、Pulse的業務及其石油和天然氣資源。無法保證此類前瞻性信息會被證明是準確的，實際結果和未來事件可能與此類前瞻性信息中的預期存在重大差異。
This forward-looking information reflects Pulse's current beliefs and is based on information currently available to Pulse and on assumptions Pulse believes are reasonable. These assumptions include, but are not limited to, the independent reserves estimates, conditions facing Pulse at the time of planned expenditure included in the reserve evaluation and in advancing and optimizing the Bigoray EOR project, conducting operations on time and on budget and growing reserves, resources, production, revenue and cash flow anticipated from these operations. 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 Pulse 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: general business, commodity prices, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; consistent production and cash flow from current operations, the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Pulse; the timing and availability of external financing on acceptable terms; and loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Pulse's disclosure documents on the SEDAR website at . Although Pulse 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 Pulse as of the date of this news release and, accordingly, is subject to change after such date. However, Pulse 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.
這些前瞻性信息反映了Pulse目前的信念，基於Pulse目前可用的信息以及Pulse認爲合理的假設。這些假設包括但不限於獨立儲備估算、Pulse在儲備評估中包括的計劃支出以及推進和優化Bigoray EOR項目、按預算進行運營以及增加這些業務的儲備、資源、產量、收入和現金流時所面臨的情況。前瞻性信息受已知和未知風險、不確定性和其他因素的影響，這些因素可能導致Pulse的實際業績、活動水平、業績或成就與此類前瞻性信息所表達或暗示的業績、活動水平、業績或成就存在重大差異。此類風險和其他因素可能包括但不限於：一般業務、大宗商品價格、經濟、競爭、政治和社會不確定性；總體資本市場狀況和證券市場價格；當前業務的持續生產和現金流、未來運營的實際業績；競爭；影響Pulse的立法變化，包括環境立法；以可接受的條件進行外部融資的時機和可用性；以及關鍵人員的流失。可能導致實際結果與前瞻性信息存在重大差異的其他風險因素的描述可在SEDAR網站上Pulse的披露文件中找到，網址爲。儘管Pulse試圖確定可能導致實際結果與前瞻性信息中包含的結果存在重大差異的重要因素，但可能還有其他因素導致結果與預期、估計或預期不符。提醒讀者，上述因素清單並不詳盡。進一步提醒讀者不要過分依賴前瞻性信息，因爲無法保證這些信息所依據的計劃、意圖或期望會實現。本警示聲明明確限制了本新聞稿中包含的前瞻性信息。本新聞稿中包含的前瞻性信息代表了Pulse截至本新聞稿發佈之日的預期，因此，在此日期之後可能會發生變化。但是，除非適用的證券法明確要求，否則Pulse明確否認任何更新或修改任何前瞻性信息的意圖或義務，無論是由於新信息、未來事件還是其他原因。
譯文內容由第三人軟體翻譯。