EMBER RESOURCES INC. ANNOUNCES 2008 OPERATING RESULTS HIGHLIGHTING SIGNIFICANT GROWTH IN PRODUCTION AND RESERVES
Ember Resources Inc. ("Ember" or the “Company”) today released un-audited fourth quarter and full-year 2008 operating results together with its 2008 year-end reserve report. Fourth quarter production increased 303% year over year to 28,930 Mcfe/d (4,822 BOE/d) based on 100% drilling success in the Company’s Horseshoe Canyon coalbed methane (“CBM”) properties, and the acquisition of Cordero Energy Inc. (“Cordero”) in September 2008. A summary of results is as follows:
**see pdf report for full table**
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FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect the Company’s operations or financial results are included in the Company’s reports on file with Canadian securities regulatory authorities.
Ember Resources Inc. is a resource company specializing in coal bed methane (CBM) with extensive land and resource holdings in Alberta, Canada. Ember’s shares are traded on the Toronto Stock Exchange under the trading symbol “EBR”.
FOR FURTHER INFORMATION PLEASE CONTACT
Mr. Douglas A. Dafoe
President & C.E.O.
Ember Resources Inc.
Telephone: 403 270-0803
Facsimile: 403 270-2850
Mr. Terry S. Meek
Executive Vice President & C.O.O.
Ember Resources Inc.
Telephone: 403 270-0803
Facsimile: 403 270-2850
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