VANCOUVER, BRITISH COLUMBIA – August 23, 2013 - (ACCESSWIRE) - Maple Leaf 2012-II Energy Income Limited Partnership (“Maple Leaf” or the “Partnership”) is pleased to announce the commencement of cash distributions for the Partnership.
The Partnership’s first cash distribution is $0.25 per limited partnership unit representing the revenue received from June production from one well.
The payment date for this distribution is August 30, 2013 to all unitholders of record on August 23, 2013. This cash distribution will be deposited directly into unitholder accounts (i.e. the account at the investment dealers where investors hold their Partnership Units).
Maple Leaf 2012-II has consummated three joint ventures encompassing up to 12 wells.
- Joint Venture 1 is a 4 well program, in which 2 wells have finished drilling and the well 3 is currently drilling. The operator is drilling off pads and will drill all 4 wells and then go back to complete the wells. The target is liquid rich gas in the Kakwa area of NW Alberta.
- Joint Venture 2 is a 4 well program located in the Gold Creek/Wapiti area of NW Alberta. The first well in the program had initial production of approximately 1,900 BOE/d. A second well is also currently being drilled. The target is liquids rich gas with a significant portion being condensate.
- Joint Venture 3 is a 4 well program in SW Saskatchewan targeting medium quality oil. Locations are being prepared with plans to commence drilling in the first 2 wells of the program in August 2013.
The Partnership currently has approximately $6MM of its original capital available for investment. The investment manager, Sprott Toscana, is continuing to review other joint venture opportunities as well as producing asset acquisitions. Sprott Toscana is confident that the balance of the capital will be invested over the next several months into quality programs that meet the Partnership’s technical and economic objectives.
OIL & GAS PRICE VOLATILITY
Maple Leaf reminds you that commodity (oil & gas) price volatility can have a significant impact on the amount of revenues realized by Maple Leaf from the sale of its oil & gas, and correspondingly, the amount of distributions Maple Leaf is able to pay to investors.
Along with the aforementioned cash distribution, investors in Maple Leaf also benefit from tax deductions off of income of up to 100% of the amount of capital.
Subsequent updates will be provided once the balance of the capital has been invested.
FOR FURTHER INFORMATION
Please contact Shane Doyle, President
MAPLE LEAF 2012-II ENERGY INCOME LIMITED PARTNERSHIP
609 Granville Street, Suite 808, Vancouver, BC V7Y 1G5
Toll Free: 866.688.5750
Source: Maple Leaf 2012-II Energy Income Limited Partnership
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