Realm Energy Initiates Strategic Review of Its Interests in Poland
27 Mai 2011 - 3:00PM
Marketwired
Realm Energy International Corporation ("Realm Energy" or the
"Company") (TSX VENTURE: RLM) (www.realmenergy.ca) announces its
intention to explore strategic alternatives regarding its interests
in Poland.
Initiation of Strategic Review
After a thorough review of the Company's current share price,
natural gas resource, and operations, the Board of Directors has
concluded that Realm Energy trades at a substantial discount to the
inherent value of its underlying assets. Accordingly, the Board has
decided to initiate a process to identify, examine and consider a
range of strategic alternatives available to the Company in
connection with its interests in Poland with a view to enhancing
shareholder value. The ultimate objective of carrying out this
review is to determine which alternative with respect to its
interests in Poland might result in superior value for shareholders
of the Company.
The process will be overseen by a special committee which
consists of the independent directors of the Board. This special
committee has a mandate to solicit, review and consider strategic
alternatives with regards to Realm Energy's interests in Poland and
to consider and recommend to the Board any proposed transaction
that is in the best interests of the Company. In addition, the
Company has retained GMP Securities L.P. as its financial advisor
to conduct an analysis and investigation of Realm Energy's
strategic alternatives with regards to its interests in Poland.
Realm Energy holds a land position in Poland of 635,000 gross
acres (465,000 net) under three exploration permits. Two of these
exploration permits are located in the Baltic Basin, northern
Poland and one is located in the Podlasie Basin, southeast Poland.
A recent independent report, conducted by a reputable reserves
evaluator that was commissioned and the results thereof disclosed
by an industry participant, has outlined an original gas in place
estimate of approximately 100 Bcf per square mile (approx. 156 MMcf
per acre) for the shale gas prospects in the Baltic Basin of
northern Poland. In addition, there has been a significant increase
in industry activity over recent months on land blocks adjacent to
Realm Energy's properties in northern Poland.
The Company has not set a definitive schedule to complete its
strategic review and, notwithstanding the above, no decision on any
particular alternative has been reached at this time.
Realm Energy does not intend to disclose developments with
respect to the strategic review process unless and until its Board
of Directors has approved a definitive transaction or other course
of action or otherwise deems disclosure of developments is
appropriate. There can be no assurance that any transaction will
occur, or if a transaction is undertaken, as to its terms or
timing.
About Realm Energy
Realm Energy is a Canadian domiciled global energy company
focused on driving the exploration and development of major shale
plays throughout Europe and emerging countries. The Company
presently has projects in Poland and Germany and is in the process
of acquiring additional petroleum and natural gas rights in other
European basins which have been identified as high potential. Realm
Energy is committed to leveraging the most advanced shale
technology to bring these resources into production. Visit Realm
Energy's website at www.realmenergy.ca.
REALM ENERGY INTERNATIONAL CORPORATION
Craig Steinke, Executive Chairman & CEO
Forward-Looking Statements: This document contains certain
forward-looking statements concerning Realm Energy, as well as
other expectations, plans, goals, objectives, information or
statements about future events, conditions, results of operations
or performance that may constitute "forward-looking statements" or
"forward-looking information" under applicable securities
legislation. Such statements or information involve substantial
known and unknown risks and uncertainties, certain of which are
beyond Realm Energy's control, including general business,
economic, competitive, political and social uncertainties; the
delay or failure to receive regulatory approvals, including rights
to lands under application, the characteristics and viability for
gas development on lands that have yet to be fully explored and
assessed, the willingness of third parties to conclude agreements
with Realm Energy on terms that are acceptable to management of
Realm Energy, and the ability of Realm Energy to secure sufficient
future funding to carry out all of its business plans.
Such forward-looking statements or information are based on a
number of assumptions which may prove to be incorrect. In addition
to other assumptions identified in this news release, assumptions
have been made regarding, among other things, commodity prices,
operating conditions, capital and other expenditures, and project
development activities.
Although Realm Energy believes that the expectations reflected
in such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward-looking statements
because Realm Energy can give no assurance that such expectations
will prove to be correct. Forward-looking statements or information
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by Realm
Energy and described in the forward-looking statements or
information.
The forward-looking statements or information contained in this
news release are made as of the date hereof and Realm Energy
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise unless so required by
applicable securities laws or the TSX Venture Exchange. The
forward-looking statements or information contained in this news
release are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell, nor
the solicitation of an offer to buy, any securities in the United
States, nor shall there be any sale of securities mentioned in this
press release in any state in the United States in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
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.
Contacts: Investor Relations Realm Energy International
Corporation Keir Reynolds, Director of Investor Relations
778.998.9242 keir@realmenergy.ca Corporate Enquiries Realm Energy
International Corporation Kevin Rathbun, Chief Financial Officer
604.637.4974 ext. 33 info@realmenergy.ca Media Contact Curve
Communications Brian Paterson 604.684.3170 ext. 102 / C:
778.319.4165 brian@curvecommunications.com www.realmenergy.ca
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