VANCOUVER, July 20/-/ - Park Place Energy Corp. ("Park Place" or "the Company") is pleased to announce the Company's revenues from its first year of production, exceeded $1,300,000. The revenues primarily come from natural gas sales however, it is also made up of approximately 19 barrels of liquids for every million cubic feet of natural gas produced. The Company has been receiving revenues for its portion of the 7 of 8 well at its Eight Mile property in North Eastern British Columbia.
Park Placeis actively looking to increase its production and is pleased with the prospects and opportunities Concessions International Inc. has been found to date. The company feels that with Natural Gas prices depressed at the moment the environment is set to acquire large untapped International properties with blue-sky Shale opportunities.
Park Place Energy President and CEO
David Johnsonsaid, "We are very excited with the progression of our vision to acquire a large blue sky shale property, and with the company generating positive cash flow from our Eight Mile property the outlook for Park Placeis very attractive."
Park Place Energy Corp. is a North American oil and gas company that is participating in high impact opportunities. The Company currently has gas production in North-East British Columbia and is committed to developing the asset as well as acquiring additional blue-sky gas opportunities in the area, with a focus on shale gas.
Park Place'smanagement is focused on optimizing profitability and enhancing shareholder value.
Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although
Park Placebelieves that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place'sforward-looking statements are expressly qualified in their entirety by this cautionary statement.