Jan 17 (Reuters) - Obsidian Energy Ltd OBE.TO :
* OBSIDIAN ENERGY COMMENTS ON STATEMENT BY FRONTFOUR CAPITAL GROUP LLC
* CONFIRMS IT IS AWARE OF A STATEMENT BY FRONTFOUR CAPITAL GROUP REGARDING THEIR VIEWS ON DIRECTION OF COMPANY
* OBSIDIAN ENERGY'S CORPORATE STRATEGY HAS UNANIMOUS SUPPORT OF BOARD OF DIRECTORS
* BOARD INTERVIEWED CANDIDATES PROPOSED BY FRONTFOUR AND MUTUALLY AGREED TO ADDITION OF ONE OF THOSE INDIVIDUALS
* APPOINTMENT WAS ACCOMPANIED WITH SAME STANDSTILL AGREEMENT EXECUTED BY LATEST BOARD ADDITION, EDWARD KERNAGHAN
* "RECEIVED A LETTER FROM FRONTFOUR IN EARLY OCTOBER, WHICH CONTAINED IDEAS WE HAD ALREADY BEEN PURSUING FOR SEVERAL MONTHS"
* RECEIVED A SECOND LETTER FROM FRONTFOUR IN MID-DECEMBER
* OBSIDIAN - DESPITE EXTENSIVE NEGOTIATIONS, FRONTFOUR WAS UNWILLING TO EXECUTE AGREEMENTAND CO WAS UNABLE TO ADD MUTUALLY AGREED UPON CANDIDATE TO BOARD