October 12, 2011
Sintana Energy Inc. (TSX-V: SNN) ("Sintana" or the "Company") announces that pursuant to a resolution passed by shareholders on Sept. 21, 2011, Drift Lake Resources Inc. has changed its name as follows.
Effective at the opening Oct. 12, 2011, the common shares of Sintana Energy Inc. will commence trading on the TSX Venture Exchange and the common shares of Drift Lake Resources Inc. will be delisted. The company is classified as an oil and gas/exploration development company. There is no consolidation of capital.
Capitalization: Unlimited shares with no par value of which 113,664,369 shares are issued and outstanding
Escrow: 30,100,993 shares
Transfer agent: Olympia Transfer Services Inc.
Trading symbol: SNN (new)
Cusip No: 82937H108 (new)
Shareholders and interested parties are invited to visit our new website www.sintanaenergy.com to review our current projects and latest developments. To receive timely updates sign up to the Company's mail list or email us at email@example.comABOUT SINTANA ENERGY
The Company is primarily engaged in petroleum and natural gas exploration and development activities in Colombia, Peru and Paraguay. The Company's exploration strategy is to acquire, explore, develop and produce superior quality assets with significant reserve potential. The Company currently holds a 25% working interest in 175,000 acres in the Bayovar Block XXVII in the Sechura Basin, Peru, a 30% interest in 108,336 acres in the Talora Block and a 30% interest in 272,021 acres in the COR-39 & COR-11 Blocks in the Magdalena Basin, Colombia. The Company continues to evaluate a portfolio of other exploration opportunities in South America.
On behalf of Sintana Energy
Chief Executive Officer
Chief Executive Officer
Vice President, Controller
This news release includes forward-looking statements related to the expected occurrences in relation to the properties identified. A multitude of factors can cause actual events to differ significantly from any anticipated development and although the Company believes that the expectations represented by such forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. These forward looking statements are based upon assumptions that the Company has made concerning the oil and gas industry in South America, that all applicable regulatory approvals will be obtained, the reliability of available data regarding the properties and increasing demand for oil and gas. Risk factors which may cause actual results to differ from those anticipated in such forward looking statements include but are limited to, the uncertainty of conducting operations under a foreign regime, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and equipment, the fluctuating prices of oil and gas, the availability of financing and the Company's dependence upon other participants in the property areas. Neither the Company nor any of its subsidiaries nor any of its officers or employees guarantee that the assumptions underlying such forward-looking statements are free from errors, nor do any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.
Although the Company believes that the expectations represented by the forward-looking statements contained herein are reasonable, undue reliance should not be placed on the forward-looking statements as there can be no assurance that such expectations will be realized. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This press release does not constitute an offer to sell or a solicitation to buy any of the securities of Drift Lake Resources in the United States.
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 this release.