Dec 18 (Reuters) - Parex Resources Inc PXT.TO :
* PAREX CONCLUDES STRATEGIC REPOSITIONING PROCESS AND ANNOUNCES OPERATIONAL UPDATE AND GO-FORWARD BUSINESS PLAN
* PAREX RESOURCES INC - INTENDS TO IMMEDIATELY IMPLEMENT A NORMAL COURSE ISSUER BID
* PAREX RESOURCES INC - EXPECTS Q4 2018 PRODUCTION TO AVERAGE APPROXIMATELY 49,000 BOE/D AND 2018 FULL YEAR PRODUCTION TO AVERAGE 44,250 BOE/D.
* PAREX RESOURCES INC - STRATEGIC REPOSITIONING REVIEW PROCESS HAS BEEN COMPLETED AND DID NOT RESULT IN AN ACCEPTABLE PROPOSAL
* PAREX RESOURCES INC - UPDATED 2018 PRODUCTION FORECAST
* PAREX RESOURCES INC - INTENDED NCIB TO ACTIVELY AND AGGRESSIVELY PURCHASE UP TO 10% OF PUBLIC FLOAT OF OUTSTANDING COMMON SHARES FOR CANCELLATION
* PAREX RESOURCES INC - SEES 2019 PRODUCTION 52,000-54,000 BOE/D
* PAREX RESOURCES INC - DURING 2019, CO ALSO INTENDS TO EVALUATE IMPLEMENTING SUBSTANTIAL ISSUER BID IN 2019
* PAREX RESOURCES INC - SEES 2019 MAINTENANCE CAPITAL EXPENDITURES $75 MILLION
* PAREX RESOURCES INC - DURING STRATEGIC REPOSITIONING REVIEW PROCESS, CO GOT MULTIPLE PROPOSALS FOR PURCHASE OF SOCA ASSETS
* PAREX RESOURCES - STRATEGIC REPOSITIONING REVIEW PROCESS HAS BEEN TERMINATED
* PAREX RESOURCES INC - DETERMINED NONE OF PROPOSALS REFLECTED VALUE OF SOCA ASSETS
* PAREX RESOURCES INC - BELIEVES THAT "MARKET PRICE OF ITS COMMON SHARES DOES NOT REFLECT THEIR UNDERLYING VALUE"
* PAREX RESOURCES INC - SEES 2019 FREE CASH FLOW OF $260 MILLION