Wrangler West Updates Credit Facility, Announces Strategic Alternatives Process

Wrangler West Updates Credit Facility, Announces Strategic Alternatives Process 
CALGARY, Sept. 3, 2013 /CNW/ - Wrangler West Energy Corp. ("Wrangler West", 
the "Company") (TSX-V "WX") provides the following corporate information 
updates. 
Credit Facility
The Company announces an amendment to the Company's revolving operating demand 
loan agreement ("Credit Facility") effective September 3, 2013 with Canadian 
Western Bank (the "lender") in the amount of $4.9 million with a monthly 
reduction of $100,000 beginning September 26, 2013 and a maturity date of 
December 31, 2013. The amended Credit Facility bears annual interest 
calculated at prime plus 2.5 percent. The amendment to the Credit Facility 
was approved by Wrangler West's Board of Directors ("Board") and the Company 
expects to use the Credit Facility to fund its ongoing operations and working 
capital deficiency. The lender cancelled the non-revolving 
acquisition/development demand loan portion of the previous Credit Facility 
agreement. 
Strategic Alternatives
The Company has initiated a process to identify, examine and consider a range 
of strategic alternatives with a view to enhancing shareholder value (the 
"process"). Strategic alternatives may include, but are not limited to, a 
potential sale of all, or a material portion of, the Company's assets; a joint 
venture, either in one transaction or in a series of transactions; the 
outright sale of the Company; or a merger or other strategic transaction 
involving Wrangler West and a third party. 
The Board believes the Company's shares trade at a discount to the value of 
the underlying assets, especially given its concentrated property and 
production base, prospective horizontal light oil drilling inventory and 
significant tax pools. The Board has established a Special Committee comprised 
of independent directors of the Company to oversee the process and has 
retained Sayer Energy Advisors to assist the Special Committee and the Board. 
Wrangler West does not intend to disclose developments with respect to the 
process unless, and until, the Board has approved a specific transaction or 
otherwise determines disclosure is necessary in accordance with applicable 
law. The Company cautions there are no assurances or guarantees the process 
will result in a transaction; or, in the event a transaction is undertaken, 
there are no assurances or guarantees regarding the terms or timing of any 
such transaction nor the impact any potential transaction might have on the 
Company's financial position. The Company has not set a definitive schedule to 
complete the process. Subject to the outcome of the process, the Company 
intends to continue to focus on maintaining production operations. 
Reader Advisory
This news release may contain forward-looking statements ("FLS") related to 
potential new crude oil and natural gas drilling, tie-ins, ongoing production 
operations, sources and use of capital, asset purchases or dispositions, 
expected future operations and possible strategic alternatives. Although 
Wrangler West believes the expectations reflected in FLS are reasonable, undue 
reliance should not be placed on FLS because the Company can give no assurance 
they will prove correct. FLS address future events and conditions and, by 
their very nature, involve inherent risks and uncertainties. A more detailed 
discussion of FLS is provided in Wrangler West's Management's Discussion and 
Analysis for the period ended June 30, 2013 and the year ended December 31, 
2012 which is filed on SEDAR (www.sedar.com). The FLS contained in this news 
release are made as of the date hereof. Unless so required by applicable 
securities laws, Wrangler West undertakes no obligation to update publicly or 
revise any FLS or information, whether as a result of new information, future 
events or otherwise. 
Corporate Profile
Wrangler West is a Canadian junior crude oil and natural gas producer which 
explores for and develops natural gas and crude oil production assets in the 
Province of Alberta. Since inception, the Company's mandate has been to use 
the drill bit to add shareholder value. Wrangler West intends to reinvest 
funds flow from operations and other available capital to protect current, and 
add future, value. Wrangler West common shares trade on the TSX Venture 
Exchange under the symbol "WX". 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as 
defined in the policies of the TSX Venture Exchange) accepts responsibility 
for the adequacy or accuracy of this news release. 
Wrangler West Energy Corp. Steven F. Johnson President and Chief Executive 
Officer info@wranglerwest.ca telephone: (403) 290-6800 
SOURCE: Wrangler West Energy Corp. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/September2013/03/c9952.html 
CO: Wrangler West Energy Corp.
ST: Alberta
NI: OIL  
-0- Sep/03/2013 22:32 GMT
 
 
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