×

Quattro Experiences Short Delay in Filing Its Annual Financial Statements

CALGARY, Alberta, May 7, 2015 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (TSX-V:QXP) ("Quattro" or the "Company") experiences a short delay in the filing of its Annual Financial Statements. The delay is due to procedures related to meeting all post-closing escrow conditions associated with the Acquisitions and Divestiture announced on April 30th, 2015 and the receipt of its yearend 2014 reserves report. Management anticipates the delay in its filing to be brief, with the NI51-101 reserves report to be filed shortly, and the financial statements to be completed and filed by early next week. Concurrently the Company will apply for revocation of the correlated securities cease trade order with the Company's common shares anticipated to be reposted for trading on the TSX Venture Exchange shortly thereafter.

About Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd. ("QXP") continues to focus on conventional exploration and development of oil and natural gas in Western Canada, primarily in south central Saskatchewan, with an expanding presence in Western Canada. Our core low risk production base continues to provide Quattro the capacity to aggressively pursue a series of high impact exploration and development efforts in Western Canada, Central and South America. The company intends to balance this portfolio of activities to assure its shareholders that it achieves material growth in reserves, production and profitability.

ADVISORY: Certain information in this news release, including the operations at the Company's properties, constitutes forward-looking statements under applicable securities laws. Although Quattro believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Quattro can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Trading in the securities of Quattro Exploration & Production Ltd. should be considered highly speculative. 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.

CONTACT: FOR FURTHER INFORMATION PLEASE CONTACT: Leonard Van Betuw Quattro Exploration & Production President and Chief Executive Officer Office (403) 984-3917 Direct Line (587) 228-7070 leonard@qxp-petro.com www.qxp-petro.com

Source:Quattro Exploration and Production Ltd.