Divestco Inc. ("Divestco" or the "Company") (TSX VENTURE:DVT) announces its
operating results for the three and six months ended June 30, 2011.


Accounting Policy Changes

On January 1, 2011, Divestco adopted International Financial Reporting Standards
("IFRS") for purposes of financial reporting, using a transition date of January
1, 2010. Accordingly, the Company's interim condensed consolidated financial
statements for the three and six months ended June 30, 2011 and the comparative
information for the three months and six ended June 30, 2010, have been prepared
in accordance with International Accounting Standard 34, "Interim Financial
Reporting", as issued by the International Accounting Standards Board ("IASB").
Previously, the Company prepared its interim and annual consolidated financial
statements in accordance with Canadian generally accepted accounting principles
("previous GAAP"). The adoption of IFRS has not had an impact on the Company's
operations and strategic decisions.


Results for the Three Months Ended June 30, 2011

Divestco realized net income for the second quarter of 2011 of $235,000 ($nil
per share - basic and diluted) compared to net loss of $4.6 million ($0.11 cents
per share - basic and diluted) for the same period in 2010. The increase of $4.8
million (105%) was due to a decrease in finance costs of $356,000 (68%), namely
interest on long-term debt, and a decrease in depreciation and amortization by
$6.3 million (81%) mainly due to the sale of the Company's seismic data assets
in Q3 2010. Offsetting this was an increase in operating expenses by $451,000
(5%) mainly due to double rent and severance costs.


During Q2 2011 and Q2 2010, Divestco generated revenue of $10.6 million. EBITDA
was $1.9 million in Q2 2011, a $0.5 million (19%) decrease from $2.4 million for
the same period in 2010. The Company generated funds from operations of $2.1
million ($0.03 per share - basic and diluted) for the second quarter of 2011,
compared to $2.4 million ($0.06 per share - basic and diluted) for the same
period in 2010.


Results for the Six Months Ended June 30, 2011

Divestco realized a net loss for the first six months of 2011 of $4.1 million
($0.07 per share - basic and diluted) compared to net loss of $8.8 million
($0.21 cents per share - basic and diluted) for the same period in 2010. The net
loss in for the six months ended June 30, 2011 was primarily due to a decrease
in revenue from the sale of the Company's seismic assets in Q3 2010 as well as
double rent commitments and expenses related to the Company's office space. This
was offset by a decrease in depreciation and amortization by $12.1 million (71%)
mainly due to the sale of the Company's seismic data assets in Q3 2010.


During the first six months of 2011, Divestco generated revenue of $19.5
million, a decrease of $3.2 million (14%) from $22.7 million for the same period
in 2010. EBITDA was $1.1 million, a $4.9 million (82%) decrease from $6 million
for the same period in 2010. The Company generated funds from operations of $1.2
million ($0.02 per share - basic and diluted) for the six months ended June 30,
2011, compared to $4.4 million ($0.10 per share - basic and diluted) for the
same period in 2010.


Late in 2010, Divestco commenced rebuilding its seismic data library by
initiating a 71 square kilometer 3D seismic survey which was completed in early
2011. The Company also obtained the trading rights to an existing 3D survey
covering an adjacent area of 66 square kilometers in Q1 2011 through a data
exchange. In Q2 2011, the Company commenced a 3D survey in central Alberta which
is expected to cover an area of approximately 200 square kilometers.


Mr. Stephen Popadynetz, CEO, President and CFO: "We are continuing to
restructure our Company and as we do so, we have had to incur several
non-recurring expenses. In the second quarter of 2011 alone, Divestco incurred
one-time expenses related to double rent and severance of $1.3 million. Despite
these charges, Divestco had a profitable quarter and continues to improve its
cash flow. Our results should improve as more of these non-recurring expenses
are completed and behind us. We feel we are well on track to sustained
profitability and positive earnings and we look forward to delivering better
results as the year progresses for our shareholders."


Non-GAAP Measures

The Company's interim condensed consolidated financial statements have been
prepared in accordance with IFRS. Certain measures in this document do not have
any standardized meaning as prescribed by IFRS and are considered non-GAAP
measures.


Divestco uses EBITDA and operating income as key measures to evaluate the
performance of segments, divisions and the Company, with the closest GAAP
measure being net income. EBITDA and operating income are measures commonly
reported and widely used by investors as indicators of the Company's operating
performance and ability to incur and service debt, and as a valuation metric.
The Company believes EBITDA and operating income assist investors in comparing
the Company's performance on a consistent basis without regard to financing
decisions, and depreciation and amortization, which are non-cash in nature and
can vary significantly depending upon accounting methods or non-operating
factors such as historical cost.


EBITDA and operating income are not calculations based on IFRS and should not be
considered alternatives to net income in measuring the Company's performance;
nor should they be used as exclusive measures of cash flow, because they do not
consider the impact of working capital growth, capital expenditures, debt
principal reductions and other sources and uses of cash, which are disclosed in
the consolidated statement of cash flows. Investors should carefully consider
the specific items included in Divestco's computation of EBITDA and operating
income. While EBITDA and operating income have been disclosed herein to permit a
more complete comparative analysis of the Company's operating performance and
debt servicing ability relative to other companies, investors should be
cautioned that EBITDA and operating income as reported by Divestco may not be
comparable in all instances to EBITDA and operating income as reported by other
companies.


EBITDA is calculated as follows:



----------------------------------------------------------------------------
                                     Three Months Ended    Six Months Ended 
                                                June 30             June 30 
----------------------------------------------------------------------------
(Thousands)                              2011      2010      2011      2010 
----------------------------------------------------------------------------
                                                                            
Net Income (Loss)                    $    235  $ (4,561) $ (4,097) $ (8,772)
Income Tax Expense (Reduction)             16    (1,400)       65    (3,309)
Other Loss (Income)                         2       (14)        2       (94)
----------------------------------------------------------------------------
Operating Income (Loss)              $    253  $ (5,975) $ (4,030) $(12,175)
Finance costs                             167       523       204     1,092 
Depreciation and Amortization           1,525     7,858     4,914    17,094 
----------------------------------------------------------------------------
EBITDA                                  1,945     2,406     1,088     6,011 
----------------------------------------------------------------------------
----------------------------------------------------------------------------



Divestco reports funds from operations because it is a key measure used by
management to evaluate its performance and to assess the ability of the Company
to finance operating activities and capital expenditures. Funds from operations
excludes certain working capital changes and other sources and uses of cash,
which are disclosed in the consolidated statement of cash flows.


Funds from operations is not a calculation based on IFRS and should not be
considered an alternative to the consolidated statement of cash flows. Funds
from operations is a measure that can be used to gauge Divestco's capacity to
generate discretionary cash flow. Investors should be cautioned that funds from
operations as reported by Divestco may not be comparable in all instances to
funds from operations as reported by other companies. While the closest GAAP
measure is cash flows from operating activities, funds from operations is
considered relevant because it provides an indication of how much cash generated
by operations is available before proceeds from divested assets and changes in
certain working capital items.


Funds from operations is calculated as follows:



----------------------------------------------------------------------------
                                                   Six Months Ended June 30 
----------------------------------------------------------------------------
(Thousands)                                             2011           2010 
----------------------------------------------------------------------------
                                                                            
Cash Flows from Operating Activities                $  2,852       $  8,839 
Changes in Non-Cash Working Capital Balances                                
 Related to Operating Activities                      (1,744)        (5,019)
Changes in Long-term Prepaid Expense                       -           (158)
Interest Paid                                            141            988 
Income Taxes Refunded                                    (51)          (290)
----------------------------------------------------------------------------
Funds from Operations                               $  1,198       $  4,360 
----------------------------------------------------------------------------
                                                                            
Financial Highlights                                                        
                                                                            
----------------------------------------------------------------------------
(Thousands, except per share                                                
 amounts)                                        Three Months Ended June 30 
----------------------------------------------------------------------------
                                                                $         % 
                                         2011      2010    Change    Change 
----------------------------------------------------------------------------
                                                                            
Revenue                              $ 10,637  $ 10,647  $    (10)        0%
                                                                            
Operating Expenses                      8,692     8,241       451         5%
----------------------------------------------------------------------------
                                                                            
EBITDA                                  1,945     2,406      (461)      -19%
                                                                            
Finance Costs                             167       523      (356)      -68%
                                                                            
Depreciation and Amortization           1,525     7,858    (6,333)      -81%
----------------------------------------------------------------------------
                                                                            
Operating Income (Loss)                   253    (5,975)    6,228      -104%
                                                                            
Other Loss (Income)                         2       (14)       16      -114%
                                                                            
Income Tax Expense (Reduction)             16    (1,400)    1,416      -101%
----------------------------------------------------------------------------
                                                                            
Net Income (Loss)                    $    235  $ (4,561) $  4,796      -105%
 Per Share - Basic and Diluted              -     (0.11)     0.11      -100%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Funds from Operations                $  2,067  $  2,422  $   (355)      -15%
 Per Share - Basic and Diluted           0.03      0.06     (0.03)      -50%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Shares Outstanding                     59,585    41,958    17,627        42%
                                                                            
Weighted Average Shares Outstanding                                         
 Basic                                 59,471    41,958    17,513        42%
 Diluted                               59,471    41,958    17,513        42%
----------------------------------------------------------------------------

----------------------------------------------------------------------------
(Thousands, except per share                                                
 amounts)                                          Six Months Ended June 30 
----------------------------------------------------------------------------
                                                                $         % 
                                         2011      2010    Change    Change 
----------------------------------------------------------------------------
                                                                            
Revenue                             $  19,452  $ 22,725  $ (3,273)      -14%
                                                                            
Operating Expenses                     18,364    16,714     1,650        10%
----------------------------------------------------------------------------
                                                                            
EBITDA                                  1,088     6,011    (4,923)      -82%
                                                                            
Finance Costs                             204     1,092      (888)      -81%
                                                                            
Depreciation and Amortization           4,914    17,094   (12,180)      -71%
----------------------------------------------------------------------------
                                                                            
Operating Income (Loss)                (4,030)  (12,175)    8,145       -67%
                                                                            
Other Loss (Income)                         2       (94)       96      -102%
                                                                            
Income Tax Expense (Reduction)             65    (3,309)    3,374      -102%
----------------------------------------------------------------------------
                                                                            
Net Income (Loss)                   $  (4,097) $ (8,772) $  4,675       -53%
 Per Share - Basic and Diluted          (0.07)    (0.21)     0.14       -67%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Funds from Operations               $   1,198  $  4,360  $ (3,162)      -73%
 Per Share - Basic and Diluted           0.02      0.10     (0.08)      -80%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Shares Outstanding                     59,585    41,958    17,627        42%
                                                                            
Weighted Average Shares Outstanding                                         
 Basic                                 59,408    41,958    17,450        42%
 Diluted                               59,408    41,958    17,450        42%
----------------------------------------------------------------------------
                                                                            
Segment Review Summary                                                      
                                                                            
For the three months ended
 June 30, 2011 (Thousands)                        
                                                                            
                           Software             Seismic Corporate           
                           and Data  Services      Data   & Other     Total 
----------------------------------------------------------------------------
Revenue                    $  2,361  $  4,480  $  3,796  $      -  $ 10,637 
EBITDA                          662       910     3,177    (2,804)    1,945 
Finance costs                     -        (1)       (1)      169       167 
Depreciation and                                                            
 Amortization                   906       272        34       313     1,525 
Operating Income (Loss)        (244)      639     3,144    (3,286)      253 
----------------------------------------------------------------------------
                                                                            
For the three months ended                                                  
 June 30, 2010 (Thousands)                                                  
----------------------------------------------------------------------------
                                                        Corporate           
                           Software  Services      Data   & Other     Total 
----------------------------------------------------------------------------
Revenue                    $  2,304  $  4,336  $  4,007  $      -  $ 10,647 
EBITDA                          903       493     3,278    (2,268)    2,406 
Finance costs                     -         -         -       523       523 
Depreciation and                                                            
 Amortization                   694       374     6,614       176     7,858 
Impairment of goodwill and                                                  
 intangibles                      -         -         -         -         - 
Operating Income (Loss)         209       119    (3,336)   (2,967)   (5,975)
----------------------------------------------------------------------------
                                                                            
For the six months ended                                                    
 June 30, 2011 (Thousands)                                                  
----------------------------------------------------------------------------
                                                        Corporate           
                           Software  Services      Data   & Other     Total 
----------------------------------------------------------------------------
Revenue                    $  4,539  $  9,606  $  5,307  $      -  $ 19,452 
EBITDA                        1,433     2,312     3,744    (6,401)    1,088 
Finance costs                     -        (1)       (3)      208       204 
Depreciation and                                                            
 Amortization                 2,037       563       972     1,342     4,914 
Operating Income (Loss)        (604)    1,750     2,775    (7,951)   (4,030)
----------------------------------------------------------------------------
                                                                            
For the six months ended                                                    
 June 30, 2010 (Thousands)                                                  
----------------------------------------------------------------------------
                                                        Corporate           
                           Software  Services      Data   & Other     Total 
----------------------------------------------------------------------------
Revenue                    $  4,724  $  9,829  $  8,172  $      -  $ 22,725 
EBITDA                        1,829     1,864     6,314    (3,996)    6,011 
Finance costs                     -         -         -     1,092     1,092 
Depreciation and                                                            
 Amortization                 1,428       903    14,291       472    17,094 
Operating Income (Loss)         401       961    (7,977)   (5,560)  (12,175)
----------------------------------------------------------------------------
                                                                            
Divestco Inc.                                                               
Condensed Consolidated Statement of Financial Position                      
                                                                            
----------------------------------------------------------------------------
                                                     June 30,   December 31,
As at                                                   2011           2010 
----------------------------------------------------------------------------
(Thousands - Unaudited)                                                     
----------------------------------------------------------------------------
                                                                            
Assets                                                                      
                                                                            
Current Assets                                                              
 Cash                                               $    903       $  3,696 
 Funds held in trust                                      16             15 
 Accounts receivable                                  12,137         11,759 
 Prepaid expenses, supplies and deposits                 224            237 
 Income taxes receivable                                 264            287 
----------------------------------------------------------------------------
                                                      13,544         15,994 
                                                                            
Investment in affiliated company                         128            100 
Participation surveys in progress                      2,819          1,253 
Property and equipment                                 5,783          3,026 
Intangible assets                                     14,966         14,611 
----------------------------------------------------------------------------
                                                                            
                                                    $ 37,240       $ 34,984 
----------------------------------------------------------------------------
                                                                            
Liabilities and Shareholders' Equity                                        
                                                                            
Current Liabilities                                                         
 Bank indebtedness                                  $  1,500       $  2,050 
 Accounts payable and accrued liabilities              7,724          8,248 
 Deferred revenue                                      2,934          2,710 
 Current loss on sublease loss provision               1,193          1,729 
 Current portion of long-term debt obligations         1,044            368 
 Current portion of tenant inducement                    141              - 
----------------------------------------------------------------------------
                                                      14,536         15,105 
                                                                            
Deferred rent obligations                                992              - 
Long-term debt obligations                             4,297            188 
Sublease loss provision                                1,402          1,621 
Tenant Inducements                                     1,810              - 
Other long-term liabilities                              100              - 
----------------------------------------------------------------------------
                                                      23,137         16,914 
----------------------------------------------------------------------------
                                                                            
Shareholders' Equity                                                        
 Equity instruments                                   75,383         75,253 
 Contributed surplus                                   5,590          5,590 
 Deficit                                             (66,870)       (62,773)
----------------------------------------------------------------------------
                                                      14,103         18,070 
----------------------------------------------------------------------------
                                                                            
                                                    $ 37,240       $ 34,984 
----------------------------------------------------------------------------
                                                                            
Divestco Inc.                                                               
Condensed Consolidated Statement of Income (Loss) and Comprehensive Income  
(Loss)                                                                      
                                                                            
----------------------------------------------------------------------------
                                                For the             For the 
                                           three months           three six 
                                          ended June 30       ended June 30 
----------------------------------------------------------------------------
(Thousands, Except Per Share Amounts                                        
 - Unaudited)                            2011      2010      2011      2010 
----------------------------------------------------------------------------
                                                                            
Revenue                              $ 10,637  $ 10,647  $ 19,452  $ 22,725 
----------------------------------------------------------------------------
                                                                            
Operating expenses                                                          
 Salaries and benefits                  5,107     4,843    10,266     9,948 
 General and administrative             3,585     3,324     8,098     6,646 
 Stock compensation expense                 -        74         -       120 
----------------------------------------------------------------------------
                                        8,692     8,241    18,364    16,714 
----------------------------------------------------------------------------
                                                                            
Finance costs                             167       523       204     1,092 
                                                                            
Depreciation and amortization           1,525     7,858     4,914    17,094 
                                                                            
Other loss (income)                         2       (14)        2       (94)
----------------------------------------------------------------------------
                                                                            
Income (loss) before income taxes         251    (5,961)   (4,032)  (12,081)
----------------------------------------------------------------------------
                                                                            
Income taxes                                                                
 Current (recovery)                        16       (48)       65       (79)
 Deferred (reduction)                       -    (1,352)        -    (3,230)
----------------------------------------------------------------------------
                                           16    (1,400)       65    (3,309)
----------------------------------------------------------------------------
                                                                            
Net income (loss) and comprehensive                                         
 income (loss) for the period             235    (4,561) $ (4,097) $ (8,772)
----------------------------------------------------------------------------
                                                                            
Net income (loss) per share                                                 
 Basic and Diluted                   $      -  $  (0.11) $  (0.07) $  (0.21)
                                                                            
Weighted average number of shares                                           
 Basic and Diluted                     59,471    41,958    59,408    41,958 
----------------------------------------------------------------------------
                                                                            
Divestco Inc.                                                               
Condensed Consolidated Statement of Changes in Equity                       
                                                                            
----------------------------------------------------------------------------
                                                                            
                                                                            
                       Number of            Number of                       
(Thousands -              Shares     Share   Warrants                Equity 
 Unaudited)               Issued   Capital     Issued  Warrants Instruments 
----------------------------------------------------------------------------
                                                                            
Balance at January 1,                                                       
 2010                     41,958  $ 70,518          -  $      -  $   70,518 
                                                                            
Net loss and                                                                
 comprehensive loss                                                         
 for the period                                                             
                                                                            
Transactions with                                                           
 owners, recorded in                                                        
 equity                                                                     
contributions by and                                                        
 distributions to                                                           
 owners:                                                                    
 Share-based payment                                                        
  transactions                                                              
----------------------------------------------------------------------------
                                                                            
Balance at June 30,                                                         
 2010                     41,958  $ 70,518          -  $      -  $   70,518 
----------------------------------------------------------------------------
                                                                            
Balance at January 1,                                                       
 2011                     58,938  $ 73,445     15,825  $  1,808  $   75,253 
                                                                            
Net loss and                                                                
 comprehensive loss                                                         
 for the period                                                             
                                                                            
Transactions with                                                           
 owners, recorded in                                                        
 equity                                                                     
contributions by and                                                        
 distributions to                                                           
 owners:                                                                    
 Issue on private                                                           
  placement                  455        48        455        52         100 
 Share-based payment                                                        
  transactions               192        31                               31 
 Share issue costs             -        (1)                              (1)
----------------------------------------------------------------------------
                                                                            
Balance at June 30,                                                         
 2011                     59,585  $ 73,523     16,280  $  1,860  $   75,383 
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                                            
                                                 Equity                     
                                             portion of  Retained           
(Thousands -                   Contributed  convertible  Earnings     Total 
 Unaudited)                        Surplus   debentures  (Deficit)   Equity 
----------------------------------------------------------------------------
                                                                            
Balance at January 1,                                                       
 2010                          $     5,562  $        56  $ 31,411  $107,547 
                                                                            
Net loss and                                                                
 comprehensive loss                                                         
 for the period                                            (8,772)   (8,772)
                                                                            
Transactions with                                                           
 owners, recorded in                                                        
 equity                                                                     
contributions by and                                                        
 distributions to                                                           
 owners:                                                                    
 Share-based payment                                                        
  transactions                         120                              120 
----------------------------------------------------------------------------
                                                                            
Balance at June 30,                                                         
 2010                          $     5,682  $        56  $ 22,639  $ 98,895 
----------------------------------------------------------------------------
                                                                            
Balance at January 1,                                                       
 2011                          $     5,590  $         -  $(62,773) $ 18,070 
                                                                            
Net loss and                                                                
 comprehensive loss                                                         
 for the period                                            (4,097)   (4,097)
                                                                            
Transactions with                                                           
 owners, recorded in                                                        
 equity                                                                     
contributions by and                                                        
 distributions to                                                           
 owners:                                                                    
 Issue on private                                                           
  placement                                                             100 
 Share-based payment                                                        
  transactions                                                           31 
 Share issue costs                                                       (1)
----------------------------------------------------------------------------
                                                                            
Balance at June 30,                                                         
 2011                          $     5,590  $         -  $(66,870) $ 14,103 
----------------------------------------------------------------------------
                                                                            
Divestco Inc.                                                               
Condensed Consolidated Statement of Cash Flows                              
                                                                            
----------------------------------------------------------------------------
For the six months ended June 30                        2011           2010 
----------------------------------------------------------------------------
(Thousands - Unaudited)                                                     
----------------------------------------------------------------------------
                                                                            
Cash flows from operating activities                                        
Net loss for the period                             $ (4,097)      $ (8,772)
Items not affecting cash:                                                   
Equity investment gain                                     1              - 
Depreciation and amortization                          4,914         17,094 
Sublease loss                                           (303)             - 
Amortization of tenant inducements                       (38)             - 
Deferred rent obligations                                425              - 
Income taxes                                              65         (3,309)
Data exchanges                                             -         (1,775)
Gain on sale of property and equipment                     -            (90)
Unrealized foreign exchange loss                          (4)             - 
Non-cash employment benefits                              31              - 
Share based payments                                       -            120 
Finance costs                                            204          1,092 
----------------------------------------------------------------------------
                                                       1,198          4,360 
Changes in non-cash working capital balances           1,744          5,019 
Changes in long-term prepaid expense                       -            158 
Interest paid                                           (141)          (988)
Income taxes refunded                                     51            290 
----------------------------------------------------------------------------
                                                       2,852          8,839 
----------------------------------------------------------------------------
                                                                            
Cash flows from (used in) financing activities                              
Bank indebtedness                                       (550)             - 
Issue of common shares, net of related                                      
 expenses                                                 99              - 
Repayment of long-term debt obligations                 (221)        (3,129)
Deferred financing costs                                (155)             - 
Proceeds received from long-term debt                                       
 obligations (net of committed revolver                                     
repayments)                                            5,000         (1,020)
----------------------------------------------------------------------------
                                                       4,173         (4,149)
----------------------------------------------------------------------------
                                                                            
Cash flows used in investing activities                                     
Additions to intangible assets                        (2,482)        (2,647)
Decrease (increase) in participation surveys                                
 in progress                                          (1,566)         1,981 
Purchase of property and equipment                    (5,422)          (442)
Additions to tenant inducements                        3,306              - 
Payment made on sublease loss provision                 (488)             - 
Investments in affiliates                                (29)             - 
Proceeds on sale of property and equipment                 -             93 
Deferred development costs                            (1,295)        (1,425)
Changes in non-cash working capital balances          (1,842)        (1,940)
----------------------------------------------------------------------------
                                                      (9,818)        (4,380)
----------------------------------------------------------------------------
                                                                            
Increase (decrease) in cash                           (2,793)           310 
                                                                            
Cash, beginning of period                              3,696            768 
----------------------------------------------------------------------------
                                                                            
Cash, end of period                                 $    903       $  1,078 
----------------------------------------------------------------------------



Divestco is an exploration services company that provides a comprehensive and
integrated portfolio of data, software, and services to the oil and gas
industry. Through continued commitment to align and bundle products and services
to generate value for customers, Divestco is creating an unparalleled set of
integrated solutions and unique benefits for the marketplace. Divestco's breadth
of data, software and services offers customers the ability to access and
analyze the information required to make business decisions and to optimize
their success in the upstream oil and gas industry. Divestco is headquartered in
Calgary, Alberta, Canada and trades on the TSX Venture Exchange under the symbol
"DVT".


This press release contains forward-looking information related to the Company's
capital expenditures, projected growth, view and outlook towards future oil and
gas prices and market conditions, and demand for its products and services.
Statements that contain words such as "could', "should", "can", "anticipate",
"expect", "believe", "will", "may" and similar expressions and statements
relating to matters that are not historical facts constitute "forward-looking
information" within the meaning applicable by Canadian securities legislation.
Although management of the Company believes that the expectations reflected in
such forward-looking information are reasonable, there can be no assurance that
such expectations will prove to have been correct because, should one or more of
the risks materialize, or should the assumptions underlying forward-looking
statements or forward-looking information prove incorrect, actual results may
vary materially from those described in this press release as intended, planned,
anticipated, believed, estimated or expected. Except where required by law, the
Company does not assume any obligation to update these forward-looking
statements or forward-looking information if conditions or opinions should
change. Readers should not place undue reliance on forward-looking statements or
forward- looking information. All of the forward-looking statements and
forward-looking information of the Company contained in this press release are
expressly qualified, in their entirety, by this cautionary statement.


In particular, this press release contains forward-looking statements pertaining
to the following: the Company's ability to reduce debt, improve liquidity,
correct its working capital deficiency and maintain profitability in the current
economy; availability of external and internal funding for future operations;
relative future competitive position of the Company; nature and timing of
growth; future sales of the Company's seismic data library; oil and natural gas
production levels; planned capital expenditure programs; supply and demand for
oil and natural gas; future demand for products/services; commodity prices;
fluctuations in interest rates; impact of Canadian federal and provincial
governmental regulation on the Company; expected levels of operating costs,
general administrative costs, costs of services and other costs and expenses;
future ability to execute dispositions of assets or businesses; expectations
regarding the Company's ability to raise capital and to add to seismic data
through new seismic shoots and acquisition of existing seismic data; treatment
under tax laws.


These forward-looking statements are based upon assumptions including: that
future prices for crude oil and natural gas, future interest rates and future
availability of debt and equity financing will be at levels and costs that allow
the Company to manage, operate and finance its business and develop its software
products and various oil and gas datasets including its seismic data library,
and meet its future obligations; that the regulatory framework in respect of
royalties, taxes and environmental matters applicable to the Company and its
customers will not become so onerous on both the Company and its customers as to
preclude the Company and its customers from viably managing, operating and
financing its business and the development of its software and data; and that
the Company will continue to be able to identify, attract and employ qualified
staff and obtain the outside expertise as well as specialized and other
equipment it requires to manage, operate and finance its business and develop
its properties.


These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the Company's control, including:
general economic, market and business condition; volatility in market prices for
crude oil and natural gas; ability of Divestco's clients to explore for, develop
and produce oil and gas; availability of financing and capital; fluctuations in
interest rates; demand for the Company's product and services; weather and
climate conditions; competitive actions by other companies; availability of
skilled labour; failure to obtain regulatory approvals in a timely manner;
adverse conditions in the debt and equity markets; and government actions
including changes in environment and other regulations.


Divestco Inc. (TSXV:DVT)
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Divestco Inc. (TSXV:DVT)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024 Plus de graphiques de la Bourse Divestco Inc.