CALGARY, Alberta, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Vital Energy Inc. (“Vital”) announces that the funding for the drilling and completion costs for the first well in the previously announced Phase 1 earning well drilling program has been advanced by Cerus Energy Corp. (“Cerus” “CEA”) (TSX-V:CEA) to Vital. 

Drilling of the first well (UWI: 91/14-15-018-17W3M) is expected to commence on or before November 14, 2017. The primary target is medium gravity (21 degree) oil from the Upper Shaunovan formation.  Vital will be the Operator of the Phase 1 earning well drilling program.

Vital Energy Inc. is a publicly traded junior oil and gas company (TSX-V:VUX) whose primary focus is developing light and medium crude oil production in Western Canada.

For further information please contact:
Jeff Standen, President
Tel: (403) 615-5827
Fax: (403) 699-9660
Email: jstanden@vitalenergyoil.com

Or visit our website at: 
www.vitalenergyoil.com

Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.

Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of Vital Energy Inc. and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of Vital Energy Inc., are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Vital's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vital. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Vital does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.