WHITE ROCK, BRITISH COLUMBIA — (Marketwire) — 07/15/11 — Realm Energy International Corporation (“Realm Energy”) or the (“Company”) (TSX VENTURE: RLM) () is pleased to announce it has entered into a farmout agreement with ConocoPhillips to conduct joint exploration activities in the Paris Basin, France.
Realm Energy has made applications for exploration licenses for 1.65 million acres in the Paris Basin. The applications comprise nine separate exploration permits and include all rights to explore for oil & gas in all formations underlying the lands. The time frame for making applications for the licenses has ended.
Realm Energy has entered into a farmout agreement (the “Farmout Agreement”) with ConocoPhillips for the purpose of conducting joint exploration activities on selected exploration licenses that may be awarded as a result of these applications. The Farmout Agreement provides Realm Energy with a limited carry on exploration expenditures and financial incentives conditional on acreage acquired and activity levels permitted by the Government. Realm Energy will be the designated operator for the initial exploration phase; ConocoPhillips has the option to operate thereafter. The Farmout Agreement is conditional on the final award to Realm Energy of permits for a portion of the lands in the Paris Basin, and government approval of the joint participation of Realm Energy and ConocoPhillips.
Craig Steinke, Chief Executive Officer of Realm Energy, stated, “ConocoPhillips brings a wealth of experience in oil & gas operations as well as a high level of health, safety and environmental standards. Realm Energy is looking forward to working with ConocoPhillips on joint operations in France and having a long and successful partnership.”
Exploration activities in the Paris Basin are currently restricted by the Government of France so as to prohibit hydraulic fracturing as part of the petroleum exploration and development process. In connection with their joint exploration activities, Realm Energy and ConocoPhillips will comply fully with all relevant legislation governing petroleum operations in France.
About Realm Energy
Realm Energy is a Canadian domiciled global energy company focused on driving the exploration and development of major shale plays throughout Europe and emerging countries. The Company presently has projects in Poland and Germany and is in the process of acquiring additional petroleum and natural gas rights in other European basins which have been identified as high potential. Realm Energy is committed to leveraging the most advanced shale technology to bring these resources into production. Visit Realm Energy–s website at .
REALM ENERGY INTERNATIONAL CORPORATION
Craig Steinke, Executive Chairman & CEO
Forward-Looking Statements: This document contains certain forward-looking statements concerning Realm Energy, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, results of operations or performance that may constitute “forward-looking statements” or “forward-looking information” under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Realm Energy–s control, including general business, economic, competitive, political and social uncertainties; the delay or failure to receive regulatory approvals, including rights to lands under application, the characteristics and viability for gas development on lands that have yet to be fully explored and assessed, the willingness of third parties to conclude agreements with Realm Energy on terms that are acceptable to management of Realm Energy, and the ability of Realm Energy to secure sufficient future funding to carry out all of its business plans.
Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, commodity prices, operating conditions, capital and other expenditures, and project development activities.
Although Realm Energy believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Realm Energy can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Realm Energy and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Realm Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Corporate Enquiries:
Kevin Rathbun
Chief Financial Officer
604.637.4974 ext. 33
Investor Relations:
Keir Reynolds
Director of Investor Relations
778-998-9242
Media Contact:
Curve Communications
Amanda Bates
604.684.3170 ext. 112 / C: 604.306.0027