Stock Name: LNV
Amount: CAD 0.05
Announcement Date: 14/10/2011
Record Date: 27/10/2011
Dividend Detail:
(TSX: LNV)
CALGARY, Oct. 14, 2011 /CNW/ - Longview Oil Corp. ("Longview" or the
"Corporation") announces that the October 2011 monthly cash dividend
will be $0.05 per share and will be paid on November 15, 2011. The
record date for the dividend is October 31, 2011, and the ex-dividend
date is October 27, 2011. The dividend is considered an "eligible
dividend" for Canadian tax purposes.
Longview's business strategy is to provide shareholders with attractive
long term returns that combine both growth and yield by exploiting its
assets in a financially disciplined manner and by acquiring additional
long-life oil assets of a similar nature. Longview's asset base is
comprised of operated oil-weighted resource plays with high working
interests in the Western Canadian Sedimentary Basin.
The payment and the amount of dividends declared in any month will be
subject to the discretion of the board of directors and will depend on
the board of director's assessment of the Corporation's outlook for
growth, capital expenditure requirements, funds from operations,
potential acquisition opportunities, debt position and other conditions
that the board of directors may consider relevant at such future time,
including applicable restrictions that may be imposed under the
Corporation's Credit Facilities and on the ability of the Corporation
to pay dividends. The amount of future cash dividends, if any, may also
vary depending on a variety of factors, including fluctuations in
commodity prices, production levels, capital expenditure requirements,
debt service requirements, operating costs, royalty burdens and foreign
exchange rates.
All dollar amounts in this press release are Canadian dollars unless
otherwise indicated.
Forward-Looking Statements
Certain information regarding Longview set forth in this press release,
including management's assessment of the Corporation's future plans and
operations, contains forward-looking statements that involve
substantial known and unknown risks and uncertainties. The use of any
of the words "anticipate", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe" and similar expressions are
intended to identify forward looking statements. Such statements
represent Longview's internal projections, estimates or beliefs
concerning, among other things, an outlook on the estimated amounts and
timing of capital expenditures or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future events
or performance. These statements are only predictions and actual events
or results may differ materially. Although Longview believes that the
expectations reflected in the forward-looking statements are
reasonable, it cannot guarantee future results, levels of activity,
performance or achievement since such expectations are inherently
subject to significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors could cause
Longview's actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of,
Longview.
In particular, forward-looking statements included in this press release
include, but are not limited to, statements with respect to targeted
average production and 2011 exit production; expected operating
expenses for the year ended December 31, 2011; future royalty rates;
projected capital expenditures for the year ended December 31, 2011;
focus of capital budget; the focus of and timing of capital
expenditures; drilling plans; timing of drilling of rigs; and crude oil
and natural gas production levels. In addition, statements relating to
"reserves" or "resources" are deemed to be forward looking statements,
as they involve the implied assessment, based on certain estimates and
assumptions, that the resources and reserves described can be
profitably produced in the future.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the Corporation's control,
including the impact of general economic conditions; volatility in
market prices for crude oil and natural gas; industry conditions;
volatility of commodity prices; currency fluctuation; imprecision of
reserve estimates; liabilities inherent in crude oil and natural gas
operations; environmental risks; incorrect assessments of the value of
acquisitions and exploration and development programs; competition from
other producers; the lack of availability of qualified personnel or
management; changes in income tax laws or changes in tax laws and
incentive programs relating to the oil and gas industry; hazards such
as fire, explosion, blowouts, cratering, and spills, each of which
could result in substantial damage to wells, production facilities,
other property and the environment or in personal injury; stock market
volatility; ability to access sufficient capital from internal and
external sources and the other risks considered under "Risk Factors" in
Longview's final prospectus dated April 6, 2011, which is available on www.sedar.com.
With respect to forward-looking statements contained in this press
release, Longview has made assumptions regarding: current commodity
prices and royalty regimes; availability of skilled labour; timing and
amount of capital expenditures; future exchange rates; the price of oil
and natural gas; the impact of increasing competition; conditions in
general economic and financial markets; availability of drilling and
related equipment; effects of regulation by governmental agencies;
royalty rates and future operating costs.
Management has included the above summary of assumptions and risks
related to forward-looking information provided in this press release
in order to provide shareholders with a more complete perspective on
Longview's future operations and such information may not be
appropriate for other purposes. Longview's actual results, performance
or achievement could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them
do so, what benefits that the Corporation will derive there from.
Readers are cautioned that the foregoing lists of factors are not
exhaustive. These forward-looking statements are made as of the date of
this press release and the Corporation disclaims any intent or
obligation to update publicly any forward-looking statements, whether
as a result of new information, future events or results or otherwise,
other than as required by applicable securities laws.
"boes" may be misleading, particularly if used in isolation. A boe
conversion ratio of six thousand cubic feet of natural gas to one
barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy
equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead.
For further information:
Investor Relations
Toll free: 1-855-813-0313
Longview Oil Corp.
700, 400 -3rd Avenue SW
Calgary, Alberta
T2P 4H2
Phone: (403) 718-8000
Fax: (403) 718-8300
Web Site:www.longviewoil.com
E-mail:ir@longviewoil.com
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