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Manitok Talks 2014 Spending Plans; Drills Two More Cardium Wells
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In addition to announcing plans to sell off its non-core assets in the Alberta Foothills, Manitok Energy Inc. has detailed its 2014 plans as well as an operational update.
The Corporation’s 2014 capital program will be adjusted up by $10.6 million as per the following table:
2014 GuidanceThe Corporation is maintaining current guidance with adjustments to reflect the Asset Disposition and a $10.6 million increase in capital expenditures. With the adjustments, net capital expenditures have decreased by $11.4 million to $93.1 million. The following table summarizes the difference:
Credit FacilitiesNational Bank of Canada will review the Asset Disposition in conjunction with our 2013 reserves report and will provide an update to Manitok’s credit facility…
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