April 2, 2018 / 10:58 AM / 6 months ago

BRIEF-Obsidian Energy Launches Sale Process For Alberta Viking Assets

April 2 (Reuters) - Obsidian Energy Ltd:

* LAUNCHES SALE PROCESS FOR ALBERTA VIKING ASSETS

* ONGOING DISCUSSIONS WITH CIC REGARDING DISPOSITION OF PEACE RIVER OIL PARTNERSHIP

* ALSO ANNOUNCING A DEFERRAL OF PROPOSED SHARE CONSOLIDATION AND CHANGES TO CO’S DIRECTOR COMPENSATION

* EXPECTS TO CONCLUDE A SALE OF ALBERTA VIKING ASSETS BY END OF Q2 OF 2018

* ‍INTENDS TO USE PROCEEDS OF ASSET SALES TO ACCELERATE GROWTH IN CO’S PRIME CARDIUM ASSETS, PAY DOWN DEBT

* INTENDS TO APPLY TO MAKE A NORMAL COURSE ISSUER BID WITH TORONTO STOCK EXCHANGE UPON CLOSING OF SALE Source text for Eikon: Further company coverage:

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