April 20, 2018 - 4:34 PM EDT
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Dundee Energy Limited Announces Sale of Assets of Dundee Energy Limited Partnership

TORONTO, April 20, 2018 (GLOBE NEWSWIRE) -- Dundee Energy Limited (“Dundee Energy” or the “Corporation”) today announced that after undertaking a sales process as mandated by the Ontario Superior Court of Justice (the “Court”), FTI Consulting Canada Inc. (“FTI”) in its capacity as proposal trustee and monitor of Dundee Oil and Gas Limited (“DOGL”) and Dundee Energy Limited Partnership (“DELP”) identified a purchaser for substantially all of DOGL’s and DELP’s assets and property and negotiated an agreement with that purchaser.  DOGL and DELP executed the agreement negotiated by FTI.  The transaction is subject to approval by the Court.

Certain information set forth in this press release, including management's assessment of each of the Corporation’s future plans and operations, contains forward-looking statements.  Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and may include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions.  In particular, forward-looking statements contained in this document include statements with respect to court approval and successful completion of the asset sale and other risk factors discussed or referred to in the section entitled “Business Risks” in the Corporation’s management’s discussion and analysis for the year ended December 31, 2017.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.  Actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive from them.  The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Dundee Energy Limited is a Canadian-based oil and natural gas company with a mandate to create long-term value for its shareholders through the exploration, development, production and marketing of oil and natural gas, and through other high impact energy projects.  Dundee Energy holds interests, both directly and indirectly, in the largest accumulation of producing oil and gas assets in Ontario and, through a preferred share investment, in certain exploration and evaluation programs for oil and natural gas offshore Tunisia. 
All documentation in respect of the Corporation may be viewed under the Corporation’s profile on SEDAR at www.sedar.com or under the Corporation’s website at www.dundee-energy.com.

For further information, please contact:

Dundee Energy Limited
20th Floor,
1 Adelaide Street East
Toronto, ON  M5C 2V9

Bruce Sherley, President & CEO
Telephone: (403) 651-4581
Telefax: (416) 363-4536
Website: www.dundee-energy.com
Email: [email protected]

Source: GlobeNewswire (April 20, 2018 - 4:34 PM EDT)

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