Le Lézard
Classified in: Business
Subjects: BOARD OF DIRECTORS, Management Changes

Pulse Oil Corp. Announces Change to Executive Team

VANCOUVER, British Columbia, March 24, 2023 (GLOBE NEWSWIRE) -- Vancouver, British Columbia, March 24, 2023 ? Pulse Oil Corp., ("Pulse" or the "Company") (TSXV: PUL) announced today that Drew Cadenhead is resigning as President of the Company, while continuing to contribute as a valued member of Pulse's Board of Directors.

Pulse's CEO, Garth Johnson commented "We thank Drew for all his efforts as President of Pulse since we started in 2015. Drew and I started this Company eight years ago with a single goal; to implement an oil opportunity we had identified in the Bigoray area of Alberta. We've endured the most challenging times of our long professional association together with this project, but we've persevered and along with our supportive investor base, have now executed on our goal of completing start-up of the solvent injection process at our 100% owned Bigoray Enhanced Oil Recovery project. Drew is a key part of the team that helped Pulse navigate through world-wide challenges, and we are now positioned to see the results of these efforts. Importantly, we are all happy that Drew will remain on the Board of Directors and that he will continue to make available his four decades of oil and gas experience to all of our team as we continue to grow Pulse's assets."

About Pulse

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company has instituted a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse's total reclamation liabilities are under $3 million which, when compared to many peers in the industry in Western Canada, are very low.

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 release.

For further information contact:

Pulse Oil Corp.

Garth Johnson

Drew Cadenhead

Forward Looking Statements:?

This news release contains "forward-looking information" within the meaning of applicable Canadian ?securities legislation. All statements, other than statements of historical fact, included herein are forward-?looking information. In this news release, such statements include but are not limited to Pulse's operations and oil and gas resources. There can be no assurance that such forward-?looking information will prove to be accurate, and actual results and future events could differ materially from ?those anticipated in such forward-looking information.

This forward-looking information reflects ?Pulse's current beliefs and is based on information currently available to Pulse and on ?assumptions Pulse believes are reasonable. These assumptions include, but are not limited to, conditions facing Pulse at the time of the planned expenditure in advancing the Bigoray EOR project. Forward-looking information is ?subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of ?activity, performance or achievements of Pulse to be materially different from those expressed or ?implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general ?business, commodity prices, economic, competitive, political and social uncertainties; general capital market conditions and market prices ?for securities; consistent production and cash flow from current operations, the actual results of future operations; ?competition; changes in legislation, including environmental legislation, affecting Pulse; the timing and availability of ?external financing on acceptable terms; and loss of key individuals?. A description of ?additional risk factors that may cause actual results to differ materially from forward-looking information can ?be found in Pulse's disclosure documents on the SEDAR website at www.sedar.com. Although ?Pulse has attempted to identify important factors that could cause actual results to differ materially ?from those contained in forward-looking information, there may be other factors that cause results not to be as ?anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. ?Readers are further cautioned not to place undue reliance on forward-looking information as there can be no ?assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking ?information contained in this news release is expressly qualified by this cautionary statement. The forward-?looking information contained in this news release represents the expectations of Pulse as of the date ?of this news release and, accordingly, is subject to change after such date. However, Pulse expressly ?disclaims any intention or obligation to update or revise any forward-looking information, whether as a result ?of new information, future events or otherwise, except as expressly required by applicable securities law.?

These press releases may also interest you

at 01:38
Indonesia Investment Authority (INA), ESR Group, and MC Urban Development Indonesia (MCUDI), a 100% subsidiary of Mitsubishi Corporation engaged in real estate development, today announced a strategic partnership, formalized by the signing of...

at 01:00
First Bank, a leading financial institution in Romania, has been recently recognized as one of the best places to work for 2023. First Bank is the first financial institution recognized as one of the best places to work in Romania for 2023 and one of...

at 01:00
Sharakah, a closed joint stock company incorporated by Royal Decree No. (76/98), has come on board with Beehive, a leading fintech company, as a new investor. Sharakah contributes to SME development in Oman and provides finance to support Oman's...

at 00:30
Landing AI, a leading computer vision cloud company, today?announced?at Computex that it is using the new NVIDIA Metropolis for Factories platform to deliver its cutting-edge Visual Prompting technology to computer vision applications in smart...

at 00:11
In recent years, with rapid growth of the global wealthy population and demand for wealth management, family office business, as an important field to promote rapid growth of the asset and wealth management industry, is a significant direction which...

28 mai 2023
Note: All times local National Capital Region, Canada Private meetings 11:20 a.m.      The Prime Minister will attend the official welcoming ceremony for the President of Iceland, Guðni Th. Jóhannesson. Notes for media: Open coverageMedia are asked...

News published on and distributed by: