June 19, 2013
Calgary, Alberta, Canada – Park Place Energy Corp. (“Park Place” or “the Company”) is pleased to announce that on June 16 2013 the Fifth Division Supreme Administrative Court in Bulgaria “the SAC” has upheld the award of the Vranino 1-11 oil and gas exploration block license to Park Place, again.
The SAC originally upheld the decision in March, 2012, however, an appeal court decided the initial decision required further reasoning and remanded the case back to the lower court in January 2013. The Company is confident that it will be able to commence its work program in 2014 provided no further appeals occur.
Since 2006, Park Place has undertaken oil and gas exploration activities in Alberta, Saskatchewan, British Columbia, Canada Tennessee, USA, the North Sea, (Norway) and recently Bulgaria.
Disclaimer: Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.