January 23, 2018 / 12:45 AM / 10 months ago

BRIEF-Journey Energy Announces Repurchase Of 24.8% Of Outstanding Common Shares

Jan 22 (Reuters) - Journey Energy Inc:

* ANNOUNCES REPURCHASE OF 24.8% OF ITS OUTSTANDING COMMON SHARES, PURCHASE OF DUVERNAY LANDS AND UPDATES 2018 GUIDANCE

* WILL PURCHASE 12.7 MILLION OF ITS OUTSTANDING SHARES FROM ITS LARGEST SHAREHOLDER, MIE MAPLE INVESTMENTS LIMITED FOR CANCELLATION​

* ‍MAPLE INVESTMENTS LIMITED HAS DECIDED TO REDUCE ITS INVESTMENT IN JOURNEY​

* SEES 2018 ANNUAL AVERAGE PRODUCTION 10,100-10,500 BOE/D

* ‍JOURNEY WILL BE ADJUSTING ITS 2018 CAPITAL SPENDING FROM A $40 MILLION PROGRAM TO A $27 MILLION PROGRAM​ Source text for Eikon: Further company coverage:

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