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Marksmen Announces Consolidated Financial Results for the Three and Nine Months ended September 30, 2019

/EIN News/ -- CALGARY, Alberta, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV: MAH) (OTCQB: MKSEF) and its wholly owned subsidiary Marksmen Energy USA, Inc. announces financial results for the interim period ended September 30, 2019.  The following documents have been filed on SEDAR:

  • Financial Statements
  • Management’s Discussion and Analysis (“MD&A”)
  • Form 52-109FV2 Certificate of Interim Filings – CEO
  • Form 52-109FV2 Certificate of Interim Filings – CFO

These filings may be viewed on the SEDAR website at www.sedar.com.

Also, as included in the subsequent event section in the financial statements and MD&A, Marksmen discloses that, as a working interest partner, the Company has an on-going business dispute with the Operator of a well in Ohio.  The Company has held back paying certain amounts owing contingent on the outcome of a joint venture audit that the Company is currently conducting on the well.  Marksmen has included the held back funds in its accounts payable and accrued liabilities section of its financial statements as at September 30, 2019.  On November 26, 2019, Marksmen Energy USA, Inc. received a Complaint on Contract issued in Hocking County, Ohio, Common Pleas Court claiming an amount owing pursuant to the operation of the well, in an amount exceeding $25,000, to be determined at trial.  Marksmen disputes this claim and will file a counterclaim.

For additional information regarding this news release please contact Archie Nesbitt, CEO and President at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

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 news release.

This news release, or the documents referenced may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen’s disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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