CALGARY, Sept. 5, 2018 /CNW/ - Tourmaline Oil Corp. (TSX - TOU)
("Tourmaline" or the "Company") is pleased to announce that its Board of Directors has declared a quarterly cash
dividend on its common shares of C$0.10 per common share, representing an 11% increase to the Q2
2018 dividend of C$0.09 per common share. The dividend will be payable September 28, 2018 to shareholders of record at the close of business on September 14,
2018. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Reader Advisories
CURRENCY
All amounts in this news release are stated in Canadian dollars unless otherwise specified.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and statements (collectively, "forward-looking information")
within the meaning of applicable securities laws. The use of any of the words "forecast", "expect", "anticipate", "continue",
"estimate", "objective", "ongoing", "on track", "may", "will", "project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify forward-looking information. More particularly and without limitation, this news release
contains forward-looking information concerning the future declaration and payment of dividends and the timing and amount
thereof. The forward-looking information is based on certain key expectations and assumptions made by Tourmaline, including
expectations and assumptions concerning the following: prevailing and future commodity prices and currency exchange rates;
applicable royalty rates and tax laws; interest rates; future well production rates and reserve volumes; operating costs the
timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells;
anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned
activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and
dispositions; the state of the economy and the exploration and production business; the availability and cost of financing,
labour and services; and ability to market crude oil, natural gas and natural gas liquids successfully. Without limitation of the
foregoing, future dividend payments, if any, and the level thereof is uncertain, as the Company's dividend policy and the funds
available for the payment of dividends from time to time will be dependent upon, among other things, free cash flow, financial
requirements for the Company's operations and the execution of its growth strategy, fluctuations in working capital and the
timing and amount of capital expenditures, debt service requirements and other factors beyond the Company's control. Further, the
ability of Tourmaline to pay dividends will be subject to applicable laws (including the satisfaction of the solvency test
contained in applicable corporate legislation) and contractual restrictions contained in the instruments governing its
indebtedness, including its credit facility.
Although Tourmaline believes that the expectations and assumptions on which such forward-looking information is based are
reasonable, undue reliance should not be placed on the forward-looking information because Tourmaline can give no assurances that
it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it
involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to: the risks associated with the oil and gas industry in general
such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, production,
revenues, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; interest
rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the
value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; ability to access
sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in
legislation, including but not limited to tax laws, royalties and environmental regulations. Readers are cautioned that the
foregoing list of factors is not exhaustive.
Additional information on these and other factors that could affect Tourmaline, or its operations or financial results, are
included in the Company's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein),
Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable
securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or Tourmaline's website (www.tourmalineoil.com).
The forward-looking information contained in this news release is made as of the date hereof and Tourmaline undertakes no
obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or
otherwise, unless expressly required by applicable securities laws.
About Tourmaline Oil Corp.
Tourmaline is a Canadian senior crude oil and natural gas exploration and production company focused on long-term growth
through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.
SOURCE Tourmaline Oil Corp.
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