VANCOUVER, May 1, 2018 /CNW/ – Hunter Oil Corp. (TSX-V: HOC; OTCQX: HOILF) (the “Company“) announces the results of its annual general and special meeting of shareholders (the “AGM”) held in Vancouver, British Columbia on April 27, 2018.
| Name of Director | Voted For | Withheld Vote | ||
| Number of Shares | % | Number of Shares | % | |
| Andrew Hromyk | 3,917,504 | 83.11 | 795,979 | 16.89 |
| Al Denson | 3,918,825 | 83.14 | 794,658 | 16.86 |
| Konstantino Ghertsos | 3,919,868 | 83.16 | 793,615 | 16.84 |
| Srinivas Polishetty | 3,919,842 | 83.16 | 793,541 | 16.84 |
| Mark Strawn | 3,920,055 | 83.17 | 793,428 | 16.83 |
The Company’s shareholders voted to pass ordinary resolutions approving the following matters:
| 1) | The appointment of Dale Matheson Carr-Hilton Labonte LLP, as the Company’s auditor and authorizing the directors to fix the remuneration of the auditor. |
| 2) | Ratification and approval renewal of the Company’s 10% “rolling” Stock Option Plan. |
About Hunter Oil Corp.
Hunter Oil owns and operates two large, historic oil fields in the Permian Basin of Eastern New Mexico – the Milnesand and Chaveroo fields, which together comprise in excess of 23,000 gross acres, substantially held by production. Historical production of these two fields is approximately 40 million barrels. Hunter has engineered a horizontal redevelopment of the San Andres productive zones. The Company plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, lowering operating costs and increasing efficiencies of its operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Hromyk President and CEO +1 (604) 689-3355
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws, including statements regarding estimates of reserves and future net revenue, expectations regarding additional reserves and statements regarding Chaveroo and Milnesand wells development, including plans, anticipated results and timing. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.
Forward-looking information regarding Chaveroo and Milnesand well development and expectations regarding additional reserves are based on plans and estimates of management and interpretations of exploration information by the Company’s exploration team at the date the information is provided and is subject to several factors and assumptions of management. These assumptions include: that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes or shortages are encountered, and that the development plans of the Company will not change. Risks include: the risk that anticipated results and estimated costs will not be consistent with managements’ expectations, the Company will not be able to obtain and provide the information necessary to secure regulatory approvals required, that unexpected geological results are encountered and that equipment failures, permitting delays or labor or contract disputes or shortages are encountered.
Information on other important economic factors or uncertainties that may affect components of the reserves data and the other statements in this release are contained in the Company’s Statement of Reserves Data and Other Oil & Gas Information dated December 31, 2017, and the Company’s MD&A under “Risk Factors”, which are available under the Company’s profile at www.SEDAR.com.
SOURCE Hunter Oil Corp.
For further information:
visit our website at www.hunteroil.com
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