PHX Energy Announces Agreement for the Sale of Russian Operations - Seite 2

Forward looking statements contained herein include, but are not limited to: the anticipated entering into of a final agreement in respect of the Transaction; the anticipated satisfaction of conditions to completion of the Transaction; that the Transaction will be completed on the terms contemplated or at all; the anticipated timing of completion of the Transaction and, if completed, the intended use of proceeds and the expected impact of the Transaction on the Corporation including its financial position and growth prospects. There can be no assurances that the final agreement will be entered into nor assurances the Transaction will be completed on the basis contemplated herein or at all and, accordingly undue reliance should not be placed on the same.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether such results will be achieved. Readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to defer materially from the results discussed in these forward-looking statements, including but not limited to those factors referred to under the heading "Risk Factors" in the Corporation's Annual Information Form ("AIF") for the year ended December 31, 2019 and the Corporation's management's discussion and analysis for the three and nine months ended September 30, 2020. Although forward-looking statements contained in this news release are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are expressly qualified by this cautionary statement. Unless otherwise required by law, PHX Energy does not intend, or assume any obligation, to update these forward-looking statements.

For further information please contact:
John Hooks, CEO; Michael Buker, President; or Cameron Ritchie, Senior Vice President Finance and CFO

PHX Energy Services Corp.
Suite 1400, 250 2nd Street SW
Calgary, Alberta T2P 0C1
Tel: [phone]   Fax: [phone]   www.phxtech.com