Tuktu Resources Ltd. Announces Initial 2025 Capital Budget
Calgary, Alberta–(Newsfile Corp. – January 27, 2025) – Tuktu Resources Ltd. (TSXV: TUK) (“Tuktu” or the “Company“) is pleased to announce its initial 2025 capital budget.
The Company’s board of directors has approved a capital budget of $6.85 million for the first six months of 2025, which will be used for drilling, completing and equipping one horizontal well and for land acquisitions and production optimization projects. The Company will monitor results from its operations and consider an additional capital program for the second half of 2025.
About Tuktu Resources Ltd.
Tuktu is a publicly traded junior oil and gas development company headquartered in Calgary, Alberta with producing oil and gas properties in southern Alberta. For additional information about Tuktu please contact:
Tuktu Resources Ltd.
960, 630 – 6th Avenue SW
Calgary, Alberta T2P 0S8
Attention: Tim de Freitas, President and Chief Executive Officer (phone: 403-478-0141);
Mark Smith, CFO and VP Finance (phone: 403-613-9661)
ADVISORIES
Forward-Looking Statements. Certain information contained in the press release may constitute forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation that involve known and unknown risks, assumptions, uncertainties and other factors. Forward-looking statements may be identified by words like “anticipates”, “estimates”, “expects”, “indicates”, “intends”, “may”, “could” “should”, “would”, “plans”, “target”, “scheduled”, “projects”, “outlook”, “proposed”, “potential”, “will”, “seek” and similar expressions (or variations or the negatives thereof). Forward-looking statements in this press release include statements regarding, among other things: Tuktu’s business, strategy, objectives, strengths and focus; the Company’s expectations regarding production, well capability, efficiency and operations of the recently stimulated well; the Company’s drilling plans and expectations; the Company’s 2025 initial capital program and budget; the potential for an additional capital program for the second half of 2025; and the performance and other characteristics of the Company’s properties and expected results from its assets. Such statements reflect the current views of management of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause results to differ materially from those expressed in the forward-looking statements. With respect to forward-looking statements contained in this press release, the Company has made assumptions regarding, among other things: the business plan of Tuktu, including the success of its initial 2025 capital budget; well performance; future pricing; commodity prices; future exchange and interest rates; supply of and demand for commodities; inflation; the availability of capital on satisfactory terms; the availability and price of labour and materials; the impact of increasing competition; conditions in general economic and financial markets; access to capital; the receipt and timing of regulatory, exchange and other required approvals; the ability of the Company to implement its business strategies and complete future acquisitions; the Company’s long term business strategy; and effects of regulation by governmental agencies.
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