💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

BRIEF-Parex Says Strategic Repositioning Review Process Has Been Terminated

Published 2018-12-18, 06:16 p/m
© Reuters.  BRIEF-Parex Says Strategic Repositioning Review Process Has Been Terminated
PXT
-

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.