Sept 10 (Reuters) - Obsidian Energy Ltd OBE.TO :
* OBSIDIAN ENERGY INITIATES FORMAL STRATEGIC ALTERNATIVES PROCESS
* OBSIDIAN ENERGY LTD - STRATEGIC ALTERNATIVES MAY INCLUDE, BUT ARE NOT LIMITED TO, A CORPORATE SALE, MERGER OR OTHER BUSINESS COMBINATION
* OBSIDIAN ENERGY LTD - THE PROCESS IS INTENDED TO EVALUATE COMPANY'S STRATEGIC OPTIONS AND ALTERNATIVES TO MAXIMIZE SHAREHOLDER VALUE
* OBSIDIAN ENERGY LTD - HIRED TUDOR, PICKERING, HOLT & CO. AS FINANCIAL ADVISOR IN CONNECTION WITH THIS REVIEW AND ANALYSIS OF STRATEGIC ALTERNATIVES
* OBSIDIAN ENERGY - ALTERNATIVES MAY ALSO INCLUDE DISPOSITION OF ALL OR PORTION OF CO'S ASSETS, RECAPITALIZATION, REFINANCING OF ITS CAPITAL STRUCTURE