Wedgemount Announces Corporate Update
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF) has provided an operational and corporate update. The company temporarily suspended oil production and processing operations due to extreme cold weather conditions to protect its wells and facilities. Production has now resumed with the return of seasonal temperatures.
Following the completion of surface facility and compliance work related to the Huggy acquisition, Wedgemount plans to focus on production growth and optimization through chemical treatments and well workovers to enhance efficiency and output.
The company has filed its delayed annual financial statements for the year ended July 31, 2024, along with related documentation and oil and gas filings. Additionally, it submitted interim financial statements for the three months ended October 31, 2024. Consequently, the British Columbia Securities Commission has revoked the company's Management Cease Trade Order on January 28, 2025.
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF) ha fornito un aggiornamento operativo e societario. L'azienda ha temporaneamente sospeso le operazioni di produzione e lavorazione del petrolio a causa di condizioni meteorologiche estremamente fredde, al fine di proteggere i propri pozzi e impianti. La produzione è ora ripresa con il ritorno delle temperature stagionali.
Successivamente al completamento dei lavori sulle strutture superficiali e di conformità relativi all'acquisizione di Huggy, Wedgemount prevede di concentrarsi sulla crescita e sull'ottimizzazione della produzione attraverso trattamenti chimici e operazioni sui pozzi per migliorare l'efficienza e la produzione.
L'azienda ha presentato i suoi bilanci annuali in ritardo per l'anno conclusosi il 31 luglio 2024, insieme alla documentazione correlata e alle pratiche relative al petrolio e al gas. Inoltre, ha presentato i bilanci intermedi per i tre mesi conclusisi il 31 ottobre 2024. Di conseguenza, la Commissione dei valori mobiliari della Columbia Britannica ha revocato l'Ordine di interruzione del commercio della società il 28 gennaio 2025.
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF) ha proporcionado una actualización operativa y corporativa. La empresa suspendió temporalmente las operaciones de producción y procesamiento de petróleo debido a condiciones climáticas extremas para proteger sus pozos e instalaciones. La producción ha reanudado ahora con el regreso de las temperaturas estacionales.
Tras la finalización de los trabajos en las instalaciones superficiales y de cumplimiento relacionados con la adquisición de Huggy, Wedgemount planea centrarse en el crecimiento de la producción y la optimización a través de tratamientos químicos y reparaciones de pozos para mejorar la eficiencia y la producción.
La empresa ha presentado sus estados financieros anuales retrasados para el año que finalizó el 31 de julio de 2024, junto con la documentación relacionada y presentaciones de petróleo y gas. Además, ha enviado estados financieros intermedios para los tres meses que finalizaron el 31 de octubre de 2024. En consecuencia, la Comisión de Valores de Columbia Británica revocó la Orden de Cese de Comercio de la empresa el 28 de enero de 2025.
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF)은 운영 및 기업 업데이트를 제공했습니다. 극심한 추운 날씨로 인해 해당 기업은 우물과 시설을 보호하기 위해 석유 생산 및 가공 작업을 일시 중단했습니다. 계절적 기온이 돌아오면서 이제 생산이 재개되었습니다.
허기 인수와 관련된 표면 시설 및 준수 작업이 완료된 후, Wedgemount은 화학 처리 및 우물 작업을 통해 생산 성장 및 최적화에 집중할 계획입니다. 이를 통해 효율성과 생산량을 향상시킬 것입니다.
회사는 2024년 7월 31일로 종료된 연례 재무 제표를 발행하고, 관련 문서 및 석유 및 가스 제도를 함께 제출했습니다. 또한, 2024년 10월 31일로 종료된 3개월간의 중간 재무 제표도 제출했습니다. 결과적으로 브리티시컬럼비아 증권 위원회는 2025년 1월 28일에 회사의 거래 중지 명령을 해제했습니다.
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF) a fourni une mise à jour opérationnelle et corporative. L'entreprise a temporairement suspendu ses opérations de production et de traitement du pétrole en raison de conditions météorologiques extrêmes afin de protéger ses puits et ses installations. La production a maintenant repris avec le retour des températures saisonnières.
Suite à l'achèvement des travaux sur les installations de surface et de conformité liés à l'acquisition de Huggy, Wedgemount prévoit de se concentrer sur la croissance et l'optimisation de la production par le biais de traitements chimiques et de travaux sur les puits afin d'améliorer l'efficacité et la production.
L'entreprise a déposé ses états financiers annuels retardés pour l'année se terminant le 31 juillet 2024, ainsi que la documentation connexe et les déclarations de pétrole et de gaz. De plus, elle a soumis des états financiers intérimaires pour les trois mois se terminant le 31 octobre 2024. Par conséquent, la Commission des valeurs mobilières de la Colombie-Britannique a révoqué l'Ordre d'arrêt de commerce de la société le 28 janvier 2025.
Wedgemount Resources (CSE: WDGY) (OTCQB: WDGRF) hat ein betriebliches und unternehmerisches Update veröffentlicht. Das Unternehmen hat die Ölproduktion und -verarbeitung vorübergehend aufgrund extrem kalter Wetterbedingungen eingestellt, um seine Bohrlöcher und Anlagen zu schützen. Die Produktion wurde nun mit der Rückkehr der saisonalen Temperaturen wieder aufgenommen.
Nach Abschluss der Arbeiten an den Oberflächenanlagen und der Compliance, die mit der Huggy-Akquisition zusammenhängen, plant Wedgemount, sich auf Produktionswachstum und -optimierung durch chemische Behandlungen und Bohrlochüberarbeitungen zu konzentrieren, um die Effizienz und den Output zu steigern.
Das Unternehmen hat seine verspäteten Jahresfinanzberichte für das am 31. Juli 2024 endende Geschäftsjahr sowie die zugehörige Dokumentation und die Öl- und Gasanmeldungen eingereicht. Außerdem hat es Zwischenfinanzberichte für die drei Monate, die am 31. Oktober 2024 endeten, eingereicht. Infolgedessen hat die Wertpapieraufsichtsbehörde von British Columbia am 28. Januar 2025 die Handelsstoppanordnung des Unternehmens aufgehoben.
- Resolution of Management Cease Trade Order through filing of required financial statements
- Resumption of oil production following weather-related shutdown
- Completion of Huggy acquisition surface facility and compliance work
- Recent production disruption due to extreme weather conditions
- Delayed filing of annual financial statements
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company") is pleased to provide an update on its operations and corporate activities.
Operations Update
Due to extreme cold weather conditions over the past few weeks, Wedgemount proactively shut-in oil production and processing to protect its wells and facilities from potential damage. In light of the return of more seasonal temperatures this week, the Company has resumed production and is once again selling oil.
With the majority of surface facility and compliance work related to the recent Huggy acquisition now complete, the Company will focus on production growth and optimization for the remainder of the year. Efforts will include continued chemical treatments and well workovers to enhance efficiency and output.
Corporate Update
On January 27, 2025, Wedgemount filed both its delayed annual financial statements for the year ended July 31, 2024, the related management discussion and analysis, certifications of the chief executive officer (the CEO) and the chief financial officer (the CFO), and the annual oil and gas filings required under Part 2 of National Instrument 51-101 -- Standards of Disclosure for Oil and Gas Activities for the year ended July 31, 2024 (collectively, the annual filings) as well as its interim financial statement for the three-months ended October 31, 2024, the related management discussion and analysis, and certifications of the CEO and CFO. As a result, the British Columbia Securities Commission (BCSC) issued a revocation of the Company's Management Cease Trade Order (MCTO) on January 28, 2025.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward-Looking statements made in this news release include the focus on production optimization for the remainder of the year including chemical treatments and well workovers to enhance efficiency and output. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238808
FAQ
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