Vancouver, British Columbia, June 19, 2023 – Pulse Oil Corp., (“Pulse” or the “Company”) (TSX-V: PUL) announces that management has changed its auditor from Manning Elliott LLP (“Manning Elliott”) to MNP LLP (“MNP”) located in Calgary, Alberta, effective as at June 6, 2023. The change in auditor is at the request of the Company and has been approved by the Company’s board of directors and its audit committee.
There have been no reservations or modified opinions in the reports of Manning Elliott on the Company’s financial statements relating to the period during which Manning Elliott was the Company’s auditor nor have there been any reportable events for disagreements or consultations or any unresolved issues (as those terms are defined in NI 51-102).
In compliance with applicable regulatory requirements the appointment of the Company’s new auditors will be brought before the next shareholders meeting on July 14, 2023.
MNP LLP is a full-service, accounting and business advisory firm in Canada which is suitable for Pulse as the Company continues forward with its Bigoray Enhanced Oil Recovery program. Pulse would also like to thank Manning Elliott for their service over the past years with Pulse.
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse’s total reclamation liabilities are less than $3 million which, when compared to many peers in the industry in Western Canada, are very low.
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.
For further information contact:
Pulse Oil Corp.