Suncor Energy to release second quarter 2025 financial results
A webcast to review the second quarter will be held on August 6, 2025 at 7:30 a.m. MT (9:30 a.m. ET). Representing management will be Rich Kruger, President and Chief Executive Officer and Kris Smith, Chief Financial Officer. A question and answer period with analysts will follow brief remarks from management. Troy Little, Senior Vice President, External Affairs will host the call.
To listen to the webcast please follow the instructions provided at https://www.suncor.com/en-ca/investors/events-and-presentations. The event will be archived for 90 days.
Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-CanadaTM retail and wholesale distribution networks (including Canada's Electric HighwayTM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information about Suncor, visit our website at suncor.com.
Media inquiries:
(833) 296-4570
media@suncor.com
Investor inquiries:
invest@suncor.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259641
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
GreenFirst Forest Products Inc (ICLTF) Q2 2025 Earnings Call Highlights: Record Production ...
Release Date: August 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points GreenFirst Forest Products Inc (ICLTF) achieved the highest production in company history with 1,160 million board feet, significantly reducing manufacturing costs. The company reported a strong sales volume of 110 million board feet, despite market uncertainties. GreenFirst Forest Products Inc (ICLTF) is actively working with the federal government on a $1.2 billion industry support plan, which could benefit the company. The company is implementing strategic capital projects, including a new saw line and cogeneration plant, expected to improve cost structure and profitability. GreenFirst Forest Products Inc (ICLTF) recorded a significant safety improvement, reducing the recordable incident rate by 50% compared to 2024. Negative Points GreenFirst Forest Products Inc (ICLTF) reported a net loss of $9.6 million in Q2 2025, with an adjusted EBITDA of negative $5.2 million. The company faced higher costs of sales due to inventory adjustments and increased SG&A expenses. Market uncertainty, including increased tariffs and duties, negatively impacted demand and pricing. The company is subject to a higher duty rate of 35.19% for Canadian shipments to the US, which could increase costs. Despite production records, the financial benefits have not yet been realized due to timing differences in cost of sales. Q & A Highlights Warning! GuruFocus has detected 2 Warning Sign with ICLTF. Q: What are the company's thoughts on the recent announced duty increase from 14.4% to 35.19% for Canadian shipments to the US, and what will be the impact on the business? A: Michel Lassard, President: The increased duty rate is concerning, but historically, most of these costs have been passed on to the end consumer, increasing housing costs in the US. We are exploring different market opportunities and hope for a resolution soon, as the Canadian industry has already paid $7.5 billion in duties since 2017. Q: Can you talk about current demand and pricing trends? A: Joel Fournier, CEO: Prices decreased in Q2, but recent duty rate announcements have led to an increase in lumber futures. Despite uncertainties, we shipped 110 million board feet, driven by strong relationships with home centers. Competitor mill curtailments may reduce supply and pressure prices upward. Q: Why don't we see the benefits of record production in the financial statements? A: Peter Ferrante, CFO: The majority of lumber sold in Q2 was produced in the prior quarter, so those production costs are reflected in Q2's cost of sales. We expect the benefits of Q2 production to reduce costs in Q3 as we sell that inventory. Q: Can you provide an update on the CapEx related to the Shale large log line project? A: Joel Fournier, CEO: We are installing a new large log line, planar mill, and cogeneration plant at the Shale sawmill. This will significantly improve profitability and cost efficiency, replacing a 40-year-old line with new technology, including AI. Q: Why is GreenFirst subject to a higher 34% duty compared to 22% for smaller players? A: Michel Lassard, President: The duty rate is an average calculated from selected major lumber producers. GreenFirst, like other companies, receives this average rate. Q: What is the company's plan if Section 232 tariffs are imposed? A: Joel Fournier, CEO: We have prepared scenarios for potential tariffs and paused half of our $50 million CapEx to maintain a strong balance sheet. We are also exploring international markets and local partnerships to diversify sales. Q: How would a quota system impact GreenFirst's operations? A: Joel Fournier, CEO: A quota could impact us, but we are preparing by developing partnerships with local consumers in Toronto to diversify sales. We aim to reduce reliance on the US market. Q: Will GreenFirst benefit from the Canadian government's $1.2 billion support program? A: Michel Lassard, President: We are pleased with the government's focus on the lumber industry and are in discussions to understand how we can benefit. We are ready to utilize available funds for projects once details are provided. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
11 best laptop deals for students in 2025 — save up to $700 on computers from Apple, Acer and more
Save hundreds on laptops from Amazon and Best Buy Canada. We're pretty sure summer just started yesterday — and yet, the first day of school is almost here. Have you stocked up on all necessary supplies and tech gadgets? Whether you're sending a kid off to university for the first time, settling everyone in for elementary or high school, or are heading back to school (or work) yourself, now is the perfect time for a laptop upgrade. Right now, Amazon and Best Buy Canada are offering great deals on models from Apple, Lenovo, HP, Acer and more with prices starting at $270.
Yahoo
an hour ago
- Yahoo
Bonterra Energy Announces Second Quarter 2025 Financial Results and Operations Update
The Company Achieves Record Production, Reduces Net Debt and Raises Production Guidance with Lower Capital CALGARY, AB, Aug. 14, 2025 /CNW/ - Bonterra Energy Corp. (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2025. The related unaudited condensed financial statements and notes for the second quarter, as well as management's discussion and analysis ("MD&A"), are available on SEDAR+ at and on Bonterra's website at FINANCIAL AND OPERATIONAL HIGHLIGHTS Three months ended Six months ended As at and for the periods ended($ 000s except for $ per share and $ per BOE) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 FINANCIAL Revenue - realized oil and gas sales 64,185 72,465 134,875 141,054 Funds flow (1) 23,092 31,484 50,727 58,502 Per share - basic 0.63 0.84 1.37 1.57 Per share - diluted 0.62 0.84 1.35 1.57 Cash flow from operations 29,996 33,180 59,610 54,834 Per share - basic 0.81 0.89 1.61 1.47 Per share - diluted 0.80 0.89 1.58 1.47 Net earnings (loss)(2) (1,313) 7,310 (8,923) 8,158 Per share - basic and diluted (0.04) 0.20 (0.24) 0.22 Capital expenditures 6,351 21,619 38,801 54,543 Oil and gas property acquisition(3) - - - 24,234 Total assets 949,202 984,065 Net debt(4) 169,938 172,622 Bank debt 29,614 41,889 Shareholders' equity 530,935 537,498 OPERATIONS Light oil -bbl per day 6,794 6,571 6,671 6,596-average price ($ per bbl) 79.85 102.09 85.39 95.50 NGLs -bbl per day 1,508 1,418 1,593 1,443-average price ($ per bbl) 42.58 45.08 44.05 45.58 Conventional natural gas - MCF per day 48,584 37,519 47,493 37,057- average price ($ per MCF) 2.03 1.64 2.22 2.14 Total BOE per day (5)16,399 14,242 16,179 14,216 (1) Funds flow, while not recognized under IFRS®, is used by management to assess the Company's ability to generate cash from operations. For these purposes, the Company defines funds flow as funds provided by operations including proceeds from sale of investments and investment income received excluding the effects of changes in non-cash working capital items and decommissioning expenditures settled. (2) Net loss for the six months ended June 30, 2025, primarily reflects a one-time debt extinguishment cost of $11.6 million. (3) On March 1, 2024, the Company acquired the Charlie Lake Assets for cash consideration of $23.6 million and $0.3 million in non-core mineral rights, including closing adjustments. The Charlie Lake Assets has been accounted for as an asset acquisition, which resulted in an increase of $24.2 million in PP&E and the assumption of $0.3 million in decommissioning liabilities. (4) Net debt is not a recognized measure under IFRS. The Company defines net debt as current liabilities less current assets plus long-term bank debt, subordinated debentures, subordinated term debt and subordinated notes. (5) BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 bbl is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. FINANCIAL & OPERATING HIGHLIGHTS Production averaged record levels for the fourth consecutive quarter, reaching 16,399 BOE per day in Q2 2025, a 15 percent increase from 14,242 BOE per day in Q2 2024. This growth was driven by the success of Bonterra's drilling results to date in the Charlie Lake and Montney. Accordingly, the Company has increased its 2025 annual production guidance to a range of 15,000 to 15,200 BOE per day from its original guidance range of 14,600 to 14,800 BOE per day. Funds flow1 totaled $23.1 million ($0.62 per diluted share) in the second quarter of 2025. Field netback and cash netback1 averaged $21.28 per BOE and $15.47 per BOE during Q2 2025, respectively, with WTI crude oil prices averaging US$63.74 per barrel and AECO natural gas prices averaging $1.68 per mcf. Production costs averaged $16.44 per BOE in Q2 2025, a decrease of 8 percent from Q1 2025, subsequent to a successful Cardium well reactivation program in the first quarter. Capital expenditures1 totaled $6.3 million in the quarter and $38.8 million in the first six months of 2025, with $20.4 million allocated to the drilling, completion and tie-in of five gross (4.7 net) operated wells in the Charlie Lake and Cardium. An additional $18.4 million supported infrastructure, non- operated activities and development of a new battery and water disposal well to further develop the Charlie Lake play. Production outperformance driven by its first half capital program has allowed the Company to lower its full year capital guidance range to $65 to $70 million from the original guidance range of $65 to $75 million. Net debt1 totaled $169.9 million as at June 30, 2025, a decrease of 9 percent from Q1 2025 resulting in a 1.3x net-debt-to-EBITDA multiple. Normal Course Issuer Bid initiated in April, and during the six months ended June 30, 2025, Bonterra purchased 491,500 common shares (1.3% of the total outstanding shares on December 31, 2024) for cancellation at an average price of $3.50 per common share. Revolving Credit Facility was renewed on April 30, 2025 with an increased borrowing base capacity of $125 million and improved terms including a wider borrowing base, lower interest rate spreads, and the removal of financial covenants, providing enhanced flexibility to support Bonterra's business plan. _____________________________________ 1 Non-IFRS measure. See advisories later in this press release. OPERATIONS UPDATE Cardium The Company is pleased to report an update on its first half Cardium drilling program. In the first quarter of 2025 the Company drilled two gross (2.0 net) Cardium wells. On average per well rates are approximately 140 barrels per day of light crude oil, 0.4 mmcf per day of conventional natural gas and 20 barrels per day of natural gas liquids after 6 months, which is well above historical results in the area. The Company plans to follow up on these results with further drilling activity in 2026. Charlie Lake The Company successfully expanded its Charlie Lake operations north of the Peace River with the drilling and completion of a three-well horizontal pad and construction of a new oil battery, pipeline, and water disposal well, ahead of schedule and on budget in the first quarter of 2025. Production from the new three-well pad commenced in the second quarter; the three wells averaged 90-day peak rates at a combined 1,905 BOE per day, including approximately 530 barrels per day of light crude oil, 100 barrels per day of natural gas liquids and 7.7 mmcf per day of conventional natural gas. The Company plans to drill an additional three gross (2.7 net) wells in the second half of 2025 with plans to bring these wells on production through Q4 2025 and Q1 2026. Current net production from the Charlie Lake asset is approximately 2,050 BOE per day. Montney The Company's latest Montney well continues to deliver strong results after 9 months, currently producing at rates of approximately 585 BOE per day, including approximately 190 barrels per day of light crude oil, 1.9 mmcf per day of conventional natural gas and 75 barrels per day of natural gas liquids. The second well in the play has cumulatively produced 72,100 barrels of light crude oil, 550 mmcf of conventional natural gas and 19,100 barrels of natural gas liquids over a nine-month period. Current net production from the Montney asset is approximately 1,000 BOE per day. The Montney remains a strategic asset in the Company's portfolio for enhancing shareholder value. The Company's plan to assess long-term egress solutions over the coming quarters before allocating further capital to the Montney play remains unchanged. RETURN-OF-CAPITAL Bonterra received approval from the Toronto Stock Exchange on April 11, 2025 to implement a Normal Course Issuer Bid. The program allows the Company to repurchase up to 3,199,449 common shares, representing approximately 10 percent of its public float, between April 15, 2025, and April 14, 2026. During the six months ended June 30, 2025 the Company purchased 491,500 common shares (1.3% of the total outstanding shares on December 31, 2024) for cancellation at an average price of $3.50 per common share. STRENGTHENED FINANCIAL POSITION In early 2025, Bonterra undertook a series of strategic financing transactions to further strengthen its balance sheet. On January 28, 2025, the Company closed a private placement of $135 million in Senior Secured Second Lien Notes due 2030, with proceeds used to repay its second lien subordinated term debt and reduce borrowings under its revolving credit facility. Following this, on February 26, 2025, Bonterra redeemed its subordinated debentures in full. On April 30, 2025, the Company renewed and increased its revolving credit facility to $125 million. The renewed facility features improved terms, including a wider borrowing base, lower interest rate spreads, and the removal of financial covenants, providing enhanced flexibility to support Bonterra's business plan. RISK MANAGEMENT AND COMMODITY PRICING To protect future cash flows, Bonterra has secured physical delivery sales and risk management contracts for approximately 35% (net of royalties payable) of its expected crude oil production and natural gas production, through the next nine months. The Company has executed costless collars ranging in WTI prices between $55.00 USD and $75.50 USD per barrel for 1,811 barrels per day. In addition, the Company has secured natural gas prices between $1.75 and $3.30 per GJ for 15,122 GJ per day. OUTLOOK In the prevailing commodity price environment, Bonterra is positioned to exceed its original full year production guidance within the bottom half of its original capital guidance range. Production is on pace to exceed the upper end of the Company's original guidance range of 14,600 to 14,800 BOE per day and, as a result, Bonterra has increased its annual production guidance range to 15,000 to 15,200 BOE per day while lowering its capital guidance range to $65 to $70 million. Higher production with less capital deployed is evidence of the Company's strategy to increase capital efficiencies while improving its free funds flow profile. For the remainder of the year, Bonterra plans to continue to focus on free funds flow generation and balance sheet management with the second-half capital program planned to execute the drilling of three gross (2.7 net) Charlie Lake wells with plans to complete, tie-in and bring the wells on production through Q4 2025 and Q1 2026. Bonterra continues to preserve capital flexibility for the remainder of the year, depending on commodity price conditions. It remains focused on driving production efficiency and maximizing returns, generating free funds flow to support debt repayment, maintaining a debt-neutral position while funding its NCIB, and evaluating strategic acquisition opportunities in its core areas. About Bonterra Bonterra Energy Corp. is a conventional oil and gas corporation forging a grounded path forward for Canadian energy. Operations include a large, concentrated land position in Alberta's Pembina Cardium, one of Canada's largest oil plays. Bonterra's liquids-weighted Cardium production provides a foundation for implementing a return of capital strategy over time, which is focused on generating long-term, sustainable growth and value creation for shareholders. The emerging Charlie Lake and Montney resource plays are expected to provide enhanced optionality and an expanded potential development runway for the future. Our shares are listed on the Toronto Stock Exchange under the symbol "BNE" and we invite stakeholders to follow us on LinkedIn and X (formerly Twitter) for ongoing updates and developments. Cautionary Statements This summarized news release should not be considered a suitable source of information for readers who are unfamiliar with Bonterra Energy Corp. and should not be considered in any way as a substitute for reading the full second quarter report. For the full report, please go to Non-IFRS and Other Financial Measures In this release, the Company refers to certain financial measures to analyze operating performance, which are not standardized measures recognized under IFRS® and do not have a standardized meaning prescribed by IFRS. These measures are commonly utilized in the oil and gas industry and are considered informative by management, shareholders and analysts. These measures may differ from those made by other companies and accordingly may not be comparable to such measures as reported by other companies. This release contains the terms "funds flow", "capital expenditures", "net debt", "net debt to EBITDA ratio", "field netback" and "cash netback" to analyze operating performance. Non-IFRS and other financial measures within this release may refer to forward-looking non-IFRS and other financial measures and are calculated consistently with the three and six months ended June 30, 2025 reconciliations as outlined below. Funds Flow Funds flow is a non-IFRS financial measure, calculated as cash flow from operating activities including proceeds from sale of investments and investment income received excluding effects of changes in non- cash working capital items and decommissioning expenditures settled. Management uses funds flow to determine the cash generated during a period. The following is a reconciliation of funds flow to the most directly comparable IFRS measure, "Cash flow from operations":Three months endedSix months endedJune 30,2025 June 30, 2024June 30, 2025 June 30, 2024 ($ millions)Cash flow from operating activities 30.0 33.259.6 54.8 Adjusted for:Changes in non-cash working capital (4.7) (4.7)(5.4) (0.6) Interest expense (4.2) (4.6)(8.4) (9.1) Interest paid 0.6 5.92.5 9.1 Decommissioning expenditures 1.2 1.62.2 2.6 Investment income received 0.2 0.10.2 0.3 Proceeds on sale of investments - -- 1.4 Funds flow 23.1 31.550.7 58.5 Capital Expenditures Capital expenditures are a non-IFRS financial measure. They are calculated as the sum of exploration and evaluation costs and property, plant, and equipment costs per the statement of cash flow. Management uses this metric to assess the total cash capital expenditures incurred and displayed in the six-month period ended June 30, 2025, condensed financial statements as follows:Three months endedSix months endedJune 30, 2025 June 30, 2024June 30, 2025 June 30, 2024 ($ millions)Comprised of:Exploration and evaluation expenditures 0.2 0.20.4 0.7 Property, plant and equipment expenditures 6.1 21.438.4 53.8 Capital Expenditures 6.3 21.638.8 54.5 Net Debt and Net Debt to EBITDA Ratio Net debt is defined as current liabilities less current assets plus long-term bank debt, subordinated debentures, subordinated term debt and subordinated notes. Net debt to EBITDA ratio is defined as net debt at the end of the period divided by EBITDA for the trailing twelve months. EBITDA is defined as net earnings excluding deferred consideration, finance costs, provision for current and deferred taxes, depletion and depreciation, share-based compensation, gain or loss on sale of assets, extinguishment of debt and unrealized gain or loss on risk management contracts. For more information about net debt or net debt to EBITDA ratio, please refer to Note 10 of the June 30, 2025 condensed financial statements. The following is a reconciliation of trailing twelve-month EBITDA to the most directly comparable IFRS measure, "Net earnings": ($ millions) June 30, 2025 December 31, 2024 Bank debt 29.6 46.2 Subordinated term debt - 35.8 Subordinated debentures - 55.9 Subordinated notes 135.2 - Current liabilities 36.8 61.4 Current assets (31.7) (32.0) Net debt 169.9 167.3 Net earnings (6.9) 10.2 Adjustments to net earnings: Unrealized (gain) loss on risk management contracts (0.1) 1.5 Gain on sale of property (3.6) - Deferred consideration (1.0) (1.0) Finance costs 24.5 26.5 Share-based compensation 3.0 2.3 Depletion and depreciation 103.1 97.1 Extinguishment of debt 11.6 - Current income tax expense 1.2 5.2 Deferred income tax recovery (2.6) (1.5) EBITDA (trailing twelve months) 129.2 140.3 Net debt to EBITDA ratio 1.3 1.2 Field and Cash Netback Field netback is a non-IFRS financial measure, calculated as oil and gas sales, realized gain (loss) on risk management contracts less royalties and productions costs. Field netback per BOE is a non- IFRS ratio, calculated as field netback divided by total barrels of oil equivalent produced during a specific period of time. There is no comparable measure in accordance with IFRS. This metric is used by management to evaluate the Company's ability to generate cash margin on a unit of production basis. Cash netback is a non-IFRS financial measure, calculated as field netback, proceeds on sale of investments and other income less office and administration, employee compensation, interest expense and current income taxes. Cash netback per BOE is a non-IFRS ratio, calculated as cash netback divided by total barrels of oil equivalent produced during a specific period of time. There is no comparable measure in accordance with IFRS. This metric is used by management to evaluate the Company's ability to generate cash flow from continuing corporate activities on a unit of production basis. Field and cash netback are calculated on per unit basis as follows:Three months endedSix months endedJune 30, 2025 June 30, 2024June 30, 2025 June 30, 2024 ($ millions)Oil and gas sales 64.1 72.5134.8 141.1 Realized gain on risk management contracts 0.5 0.30.9 0.7 Royalties (8.3) (10.4)(18.3) (19.4) Production costs (24.6) (21.0)(50.3) (44.2) Field Netback 31.7 41.467.1 78.2 Office and administration (1.4) (1.3)(2.9) (3.3) Employee compensation (1.7) (1.6)(3.6) (3.4) Proceeds on sale of investments - -- 1.4 Interest expense less other income (4.1) (4.4)(8.2) (8.7) Current income tax (1.4) (2.6)(1.7) (5.7) Cash Netback 23.1 31.550.7 58.5 Barrel of oil equivalent (BOE) 1,492,316 1,296,0462,928,482 2,587,246 Field Netback ($ per BOE) 21.28 32.0522.93 30.26 Cash Netback ($ per BOE) 15.47 24.2917.32 22.61 Forward Looking Information Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to: the Company's 2025 financial and operating guidance relating to production and capital expenditures; the Company's 2025 priorities and outlook; exploration and development activities; repayment of indebtedness; plans to continue funding the NCIB; oil and natural gas prices and demand; expansion and other development trends of the oil and gas industry; business strategy and outlook; expansion and growth of our business and operations; and other such matters. All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; the impact on the Canadian energy industry of U.S. tariffs, changes to international trade agreements or the potential imposition of tariffs or other protectionist economic policies by the Canadian federal or provincial governments; applicable environmental, taxation and other laws and regulations as well as how such laws and regulations may limit growth or operations within the oil and gas industry; the impact of climate-related financial disclosures on financial results; the ability of the Company to raise capital, maintain its syndicated bank facility and refinance indebtedness upon maturity; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; credit risks; climate change risks; cyber security; opportunities available to or pursued by us; and other factors, many of which are beyond our control. The foregoing factors are not exhaustive. In addition, to the extent that any forward-looking information presented herein constitutes future-oriented financial information or financial outlook, as defined by applicable securities legislation, such information has been approved by management of the Company and has been presented to provide management's expectations used for budgeting and planning purposes and for providing clarity with respect to the Company's strategic direction based on the assumptions presented herein and readers are cautioned that this information may not be appropriate for any other purpose. Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived therefrom. Except as required by law, Bonterra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained herein is expressly qualified by this cautionary statement. Frequently recurring terms Bonterra uses the following frequently recurring terms in this press release: "WTI" refers to West Texas Intermediate, a grade of light sweet crude oil used as benchmark pricing in the United States; "MSW Stream Index" or "Edmonton Par" refers to the mixed sweet blend that is the benchmark price for conventionally produced light sweet crude oil in Western Canada; "AECO" is the benchmark price for natural gas in Alberta, Canada; "bbl" refers to barrel; "NGL" refers to Natural gas liquids; "MCF" refers to thousand cubic feet; "MMBTU" refers to million British Thermal Units; "GJ" refers to gigajoule; and "BOE" refers to barrels of oil equivalent. Disclosure provided herein in respect of a BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 bbl is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References in this press release to peak rates, initial production rates, test rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Bonterra. The Company cautions that such results should be considered preliminary. Numerical Amounts The reporting and the functional currency of the Company is the Canadian dollar. The TSX does not accept responsibility for the accuracy of this release. SOURCE Bonterra Energy Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
