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LNG Lng Energy Ltd.

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Share Name Share Symbol Market Type
Lng Energy Ltd. TSXV:LNG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

LNG Energy Ltd. Completes Acquisition of Enterprise Energy Resources Ltd.

20/08/2013 1:00pm

Marketwired Canada


LNG Energy Ltd. ("LNG") (TSX VENTURE:LNG) and Enterprise Energy Resources Ltd.
(TSX VENTURE:EER) ("Enterprise") are pleased to announce the completion of the
acquisition of Enterprise by LNG (the "Acquisition"). The Acquisition increases
LNG's net working interest in PPL 319 in Papua New Guinea to 16.85% and in PPLs
320, 321 and 322 to 84.25%.


Under the terms of the Acquisition, LNG issued 238,633,975 common shares in
exchange for all of the 47,726,795 issued and outstanding common shares of
Enterprise, on the basis of five LNG shares for each whole Enterprise share (see
June 25, 2013 press release) (the "Exchange Ratio"). Enterprise stock options
will also become vested and continue in accordance with the terms of the plan of
arrangement, and will be exercisable into LNG common shares, subject to
adjustment in number and exercise price based on the Exchange Ratio. If all such
stock options are exercised, an additional 14,075,000 common shares of LNG would
be issuable.


For additional information on the transaction, please refer to Enterprise's
information circular dated July 5, 2013 available on SEDAR at www.sedar.com.


About LNG

LNG is a Canadian exploration and development company focused on developing oil
and gas properties in Papua New Guinea, Poland and Bulgaria. Prior to closing
the Acquisition, LNG holds in Papua New Guinea a 13.7% net interest in PPL 319
and a 68.5% interest in 3 additional PPLs in northern Papua New Guinea (which
collectively cover approximately 5.5 million gross acres) and a 20% net interest
in PRL 13 (which covers approximately 42,000 gross acres). Telemu has entered
into a farm-in agreement with subsidiaries of Heritage Oil PLC under which those
subsidiaries acquired an 80% interest in PPL 319 and PRL 13, subject to
fulfillment of work commitments under the farm-in agreement. LNG has a 20.18%
net interest in approximately 734,000 gross acres of prospective shales in
Poland together with BNK Petroleum Inc., Sorgenia E&P S.p.A., and
Rohol-Aufsuchungs Aktiengesellschaft. LNG is operator and has a 50% net interest
in approximately 360,000 gross acres of prospective shales in Poland together
with San Leon Energy. LNG has entered into a farm-in agreement relating to
405,080 acres of prospective argillite formation in Bulgaria with Direct
Petroleum Bulgaria EOOD, a subsidiary of TransAtlantic Petroleum Ltd. LNG shares
trade on the TSX Venture Exchange under the symbol "LNG".


About Enterprise

Enterprise is a Canadian exploration and development company with oil and gas
properties in Montana, USA and Papua New Guinea. Enterprise holds a 15.75%
interest in Telemu which holds a 20% interest in PPL 319 and 100% interest in
PPLs 320, 321 and 322. Enterprise also holds a 100% working interest (80% net
revenue interest) in approximately 13,000 net mineral acres of oil and gas
leases in Daniels and Sheridan Counties located in north east Montana as well as
a 100% working interest (79% net revenue interest) in approximately 46,700 net
acres of oil and gas leases in Cascade County, in western Montana. Further
information is available under the Company's profile at www.sedar.com.


ENTERPRISE ENERGY RESOURCES LTD.

Geoff Carrington, President & CEO

Neither 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


Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts
constitute "forward-looking statements" or "forward-looking information" within
the meaning of applicable securities laws and are based on expectations,
estimates and projections as of the date of this release. Forward-looking
statements include, without limitation, possible events, statements with respect
to the Acquisition. The words "is expected" or "estimates" or variations of such
words and phrases or statements that certain actions, events or results "may" or
"could" occur and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by Enterprise as of the date of
such statements, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in the
forward-looking statements. Many of these factors could cause actual results to
differ materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, Enterprise in this release. There can be no
assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such
statements. Forward-looking statements are provided for the purpose of providing
information about management's expectations and plans relating to the future.
All statements are made as of the date of this news release and, except as
required by law, the Company is under no obligation to update or alter any
forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Enterprise Energy Resources Ltd.
Investor Relations
1-604-639-4672
info@eerl.ca

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