October 2, 2018 - 9:20 AM EDT
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Mexico's President-elect commits to respect oil contracts

Canada NewsWire

VANCOUVER, Oct. 2, 2018 /CNW/ - Renaissance Oil Corp. ("Renaissance" or the "Company") (TSX-V: ROE) (OTCQB: RNSFF) is pleased to announce that Mexico's president-elect, Andres Manuel Lopez Obrador, who will take office on December 1, 2018, assured private energy executives on September 27, 2018 that their contracts will not be canceled if they meet existing terms.

During the meeting with AMEXHI, Mexico's association of oil and gas producers, which Renaissance is a member of, Mr. Lopez Obrador underlined the importance of the private sector's participation in developing the oil and gas sector in Mexico and its important role in increasing production in the following years.

Further, Mr. Lopez Obrador's designated Energy Minister, Rocio Nahle, confirmed the incoming administration's support for the contracts as well as a commitment to resolving regulatory delays.

Craig Steinke, Renaissance CEO, stated, "Renaissance is reassured by these developments and encouraged that the Mexican government is supportive of the important role international oil companies, like Renaissance, play in the development of the Mexican petroleum industry."

Renaissance continues to make progress on its journey to become a major Mexican energy producer.

RENAISSANCE OIL CORP.

Per:
        Craig Steinke
        Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, without limitation, statements with respect to the stated intention of the new Mexican government supporting existing contracts and Renaissance continuing to make progress on its journey to become a major Mexican energy producer.  Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Renaissance Oil Corp.

View original content: http://www.newswire.ca/en/releases/archive/October2018/02/c8295.html

Craig Steinke, Chief Executive Officer | Tel: 1.604-536-3637; Kevin J. Smith, Vice President, Business Development | Tel: 1.403-200-9047Copyright CNW Group 2018


Source: Canada Newswire (October 2, 2018 - 9:20 AM EDT)

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