18:17:15 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Kingsland Energy Corp
Symbol KLE
Shares Issued 62,667,371
Close 2012-12-21 C$ 0.54
Market Cap C$ 33,840,380
Recent Sedar Documents

ORIGINAL: Kingsland to seek approvals for control of EHR

2013-01-02 18:07 ET - News Release

Also News Release (C-HTC) HTC Purenergy Inc

Received by email:

File: 01-02-13 News Release on sale of EHR to KEC.pdf

                                              
                                              
News Release 
For Immediate Release                                                             January 2, 2013  
 
 Kingsland Energy Corp. buys controlling ownership of EHR Enhanced 
         Hydrocarbon Recovery Inc. from HTC Purenergy Inc. 
                                   
Kingsland  Energy  Corp.  ("KLE")  today  announced  that,  further  to  its  previous  announcement,  it 
still intends to, subject to regulatory and majority disinterested shareholder approval, purchase  
control  of  EHR  Enhanced  Hydrocarbon  Recovery  Inc.  ("EHR")  through  the  purchase  of  HTC 
Purenergy's  entire  interest  in  EHR.    Through  the  acquisition,  KLE  will  gain  70%  of  EHR's 
outstanding shares, adding to the 29% it already owns.  
 
EHR  owns  and  is  developing  new  oil  and  gas  production  optimization  and  enhanced 
secondary/tertiary  recovery  technologies.  Its  technologies  are  a  strong  differentiated 
competitive  advantage  in  the  oil  and  gas  industry.  EHR  has  an  experienced  management  team 
with a background in technology development, deployment and energy technology finance that 
will provide additional business synergies to KLE by joining the two companies together.   
 
The  acquisition  by  KLE  of  the  12  Million  common  shares  of  EHR,  currently  owned  by  HTC 
Purenergy,  is  subject  to  KLE  issuing  6  Million  common  shares  and  the  issuance  of  a  secured, 
convertible  debenture  to  HTC  Purenergy  at  the  date  of  closing.  The  value  of  the  debenture, 
which is payable or convertible to KLE common shares no later than 24 months from the date of 
closing,  is  equal  to  the  technology  development  investment  previously  invested  in  EHR  by  HTC 
Purenergy,  at  approximately  $1.4  Million  dollars.  The  board  of  directors  of  KLE  has  approved 
the transaction.   
 
"We believe this transaction will provide compelling long term value for our shareholders," said 
Mark Kilback, Chairman of the Board and Chief Executive Officer of KLE "  

About Kingsland Energy Corp. 

Kingsland  Energy  Corp.  (KLE:  TSXV)  is  a  publicly  traded,  Saskatchewan  based  oil  company 
utilizing  advanced  drilling  and  production  optimization  technology  to  secure  and  develop 
significant  oil  reserves  in  Saskatchewan,  Manitoba  and  Alberta,  Canada.    KLE  is  uniquely 
positioned  as  the  only  resident  Saskatchewan  Oil  and  Gas  Company  with  the  capabilities, 
technologies  and  strategic  alliances  to  extract  the  full  value  from  oil  assets.  Through  KLE's 
alliance with EHR Enhanced Hydrocarbon Recovery, KLE is able to manage full life oil production 
from  primary  stage  through  optimized  water  flood,  then  tertiary  polymer  flood  and            CO2 
flood  for both light and heavy oil. www.kingslandenergy.com 
 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 THE RELEASE.

For more information contact:
Mark Kilback,
Kingsland Energy Corp.
Telephone: (306) 359-3444
Fax:       (306) 545-3262
E-mail: mark@kingslandenergy.com
 


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