West Canyon Energy Announces Sale of Property
25 Septembre 2009 - 3:51PM
Business Wire
West Canyon Energy Corp. (“West Canyon” or the “Company”)
(OTCBB:WCYN), is an independent oil and gas exploration and
production company headquartered in Houston, Texas and focused on
the strategic exploration and development of international and
domestic, high-impact energy projects.
West Canyon Energy announced today that has entered into an
agreement with Delavaco Energy to sell 100% of its 6% non-operated
Participation Interest in the Carbonera Block for USD$750,000. The
Carbonera Block is located in the Northern part of Colombia in the
Catatumbo Basin. Closing of this transaction is expected to occur
on or before October 1, 2009.
Shane Reeves, West Canyon's Chairman and President, stated, “We
are very pleased to have monetized our minority owned interest in
this natural gas project, which will afford us the opportunity to
use the proceeds of the sale to retire a significant portion of the
Company’s debt.”
About West Canyon Energy Corp.:
West Canyon Energy Corp. is a publicly traded independent Oil
and Gas exploration and production company headquartered in
Houston, Texas (NASDAQ OTC BB: WCYN). The Company's mission is to
provide new and secure energy solutions for America while
increasing shareholder value through the strategic exploration and
development of domestic, high-impact energy projects. In line with
the Company's focus, West Canyon will continue to expand its
portfolio of continental US prospects through the use of property
acquisition and operating agreements aimed at minimizing capital
expenditures. Shareholders and prospective investors are encouraged
to visit West Canyon Energy's website: www.westcanyonenergy.com and
subscribe to the email newsletter. Please feel free to call
investor relations toll-free at 1-888-977-6884 to receive a full
corporate investor's package.
On behalf of the Board
Shane Reeves, Chairman and President
Forward-Looking Statements
This news release contains "forward-looking statements", as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and
uncertainties. Words such as "expects", "intends", "plans", "may",
"could", "should", "anticipates", "likely", "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management, including, but not limited to: the completion of the
sale of the Carbonera Block.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
oil and gas exploration; changes in reserve estimates if any; the
potential productivity of our properties; changes in the operating
costs and changes in economic conditions and conditions in oil and
gas exploration. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance those beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our current
and periodic reports filed from time-to-time with the Securities
and Exchange Commission.
West Canyon Energy (CE) (USOTC:WCYN)
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