This press launch incorporates sure forward-looking info (collectively referred to herein as “forward-looking statements”) inside the that means of relevant Canadian securities legal guidelines. Ahead-looking statements are sometimes, however not all the time, recognized by way of phrases equivalent to “steerage”, “outlook”, “anticipate”, “goal”, “plan”, “proceed”, “intend”, “think about”, “estimate”, “anticipate”, “might”, “will”, “ought to”, “may” or related phrases suggesting future outcomes. Extra significantly, this press launch incorporates statements regarding the future declaration and cost of dividends and the timing and quantity thereof. Future dividend funds, if any, and the extent thereof, is unsure, because the Firm’s dividend coverage and the funds obtainable for the cost of dividends every so often relies upon, amongst different issues, free funds circulation monetary necessities for the Firm’s operations and the execution of its development technique, fluctuations in working capital and the timing and quantity of capital expenditures, debt service necessities and different elements past the Firm’s management. Additional, the power of Tamarack to pay dividends will likely be topic to relevant legal guidelines (together with the satisfaction of the solvency check contained in relevant company laws) and contractual restrictions contained within the devices governing its indebtedness, together with its credit score facility.
The forward-looking statements contained on this doc are primarily based on sure key expectations and assumptions made by Tamarack, together with regarding: the marketing strategy of Tamarack, the timing of and success of future drilling, growth and completion actions; the geological traits of Tamarack’s properties; the traits of not too long ago acquired belongings; the profitable integration of not too long ago acquired belongings into Tamarack’s operations; prevailing commodity costs, worth volatility, worth differentials and the precise costs acquired for the Firm’s merchandise; the provision and efficiency of drilling rigs, amenities, pipelines and different oilfield providers; the timing of previous operations and actions within the deliberate areas of focus; the drilling, completion and tie-in of wells being accomplished as deliberate; the efficiency of recent and current wells; the applying of current drilling and fracturing strategies; prevailing climate and break-up circumstances; royalty regimes and trade charges; influence of inflation on prices, the applying of regulatory and licensing necessities; the continued availability of capital and expert personnel; the power to keep up or develop the banking amenities; the accuracy of Tamarack’s geological interpretation of its drilling and land alternatives, together with the power of seismic exercise to boost such interpretation; and Tamarack’s skill to execute its plans and methods.
Though administration considers these assumptions to be cheap primarily based on info presently obtainable, undue reliance shouldn’t be positioned on the forward-looking statements as a result of Tamarack can provide no assurances that they might show to be appropriate. By their very nature, forward-looking statements are topic to sure dangers and uncertainties (each basic and particular) that might trigger precise occasions or outcomes to vary materially from these anticipated or implied by such forward-looking statements. These dangers and uncertainties embrace, however usually are not restricted to: the danger that future dividend funds thereunder are decreased, suspended or cancelled; unexpected difficulties in integrating of not too long ago acquired belongings into Tamarack’s operations; incorrect assessments of the worth of advantages to be obtained from acquisitions and exploration and growth applications; dangers related to the oil and fuel business basically (e.g. operational dangers in growth, exploration and manufacturing; and delays or modifications in plans with respect to exploration or growth initiatives or capital expenditures); commodity costs; elevated working and capital prices as a consequence of inflationary pressures; the uncertainty of estimates and projections regarding manufacturing, money era, prices and bills; well being, security, litigation and environmental dangers; entry to capital; and the COVID-19 pandemic. As a result of nature of the oil and pure fuel business, drilling plans and operational actions could also be delayed or modified to react to market circumstances, outcomes of previous operations, regulatory approvals or availability of providers inflicting outcomes to be delayed. Please check with the annual info type for the yr ended December 31, 2021 and the administration’s dialogue and evaluation for the interval ended June 30, 2022 (the “MD&A”) for added threat elements regarding Tamarack, which might be accessed both on Tamarack’s web site at www.tamarackvalley.ca or beneath the Firm’s profile on www.sedar.com.The forward-looking statements contained on this press launch are made as of the date hereof and the Firm doesn’t undertake any obligation to replace publicly or to revise any of the included forward-looking statements, besides as required by relevant regulation. The forward-looking statements contained herein are expressly certified by this cautionary assertion.
