January 24, 2017 - 2:25 PM EST
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Halio Signs Letter of Intent

(via TheNewswire)

January 20, 2017 / TheNewswire / Halio Energy Inc. ("Halio" or the "Company") (TSXV - HOIL) is pleased to announce that it has entered into a letter of intent with an arm's length third party dated January 20, 2017 (the "LOI"), whereby, subject to entry into a definitive farm-in agreement (the "Definitive Agreement"), Halio has the right to farm-in to a 25% participating interest located in the Central North Sea. In consideration for the transfer of the 25% interest, Halio is required to pay 33% of the costs of a proposed exploration well and a cash reimbursement of US$175,000. Once the interest is earned, Halio will be responsible for 25% of the farm-in well costs which will be governed by a joint operating agreement. Pursuant to the terms of the LOI, the parties have agreed to an exclusivity period ending March 15, 2017 for Halio to conduct due diligence and sign the Definitive Agreement.

"We are very pleased with the opportunity to participate in this North Sea project which is in line with our stated development objectives." By: Joseph E Casabona CEO


Halio Energy Inc. (TSX-V: HOIL) plans to invest in North Sea, North and South American-based oil and gas upstream and producing properties, and intends to procure direct working interests on a non-operated basis as well as limited partnership, joint venture, and MLP interests. Our proposed acquire-and-exploit strategy is focused on properties that show significant opportunities for future scalability, growth and consolidation, targeting assets that provide long-life, high-quality production with relatively predictable decline curves, as well as low-risk development opportunities.


Per: Misha L. Andric, Director

For further information, please contact:

Halio Energy Inc.
Telephone: 604-638-5817

This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as statements that the Company intends to: (i) negotiate and enter into the Definitive Agreement; (ii) invest in conventional and unconventional oil and gas upstream and producing properties; and (iii) procure direct working interests on a non-operated basis as well as limited partnership, joint venture and MLP interests. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the oil and gas industry in general; (iii) the inability of the Company to finance its growth; or (iv) the inability to identify and acquire suitable property interests. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

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.

Copyright (c) 2017 TheNewswire - All rights reserved.

Source: TheNewsWire (January 24, 2017 - 2:25 PM EST)

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