NuVista Energy Ltd. Announces Common Share Financing

CALGARY, Nov. 12, 2013 /CNW/ - NuVista Energy Ltd. ("NuVista") (TSX: NVA) is 
pleased to announce that it has entered into an agreement with a syndicate of 
underwriters co-led by Peters & Co. Limited and RBC Capital Markets Corp., and 
including CIBC World Markets Inc., FirstEnergy Capital Corp., Scotia Capital 
Inc., BMO Capital Markets, TD Securities Inc. and National Bank Financial Inc. 
(collectively, the "Underwriters"), pursuant to which the Underwriters have 
agreed to purchase, on a bought deal basis, 11,000,000 common shares of the 
Corporation (the "Common Shares") at a price of $7.10 per Common Share for 
aggregate gross proceeds of approximately $78.1 million (the "Offering"). 
The net proceeds of the Offering will initially be used by NuVista to pay down 
bank indebtedness and then to fund its remaining 2013 and 2014 Wapiti Montney 
capital program. NuVista's Board of Directors has approved an increase of the 
2014 capital budget to between $240 million and $260 million. NuVista 
expects to maintain its current production guidance of Q4 2013 to Q4 2014 
production per share growth of 15% including the effect of this Offering, or 
approximately 25% absolute production growth. 
The Offering is scheduled to close on or about December 3, 2013 and is subject 
to customary regulatory approvals including the approval of the Toronto Stock 
Exchange (the "TSX"). Following the closing of the Offering NuVista will 
have approximately 134.9 million common shares outstanding. 
This press release is not an offer of the Common Shares for sale in the United 
States. The Common Shares have not been, and will not be, registered under the 
United States Securities Act of 1933, as amended and may not be offered or 
sold in the United States absent registration or an exemption from the 
registration requirements thereof. This press release shall not constitute an 
offer to sell or the solicitation of an offer to buy, nor shall there be any 
sale of these securities, in any jurisdiction in which such offer, 
solicitation or sale would be unlawful. 
This press release contains forward-looking statements and forward-looking 
information (collectively, "forward-looking statements") within the meaning of 
applicable securities laws. The use of any of the words "will", "expects", 
"believe", "plans", "potential" and similar expressions are intended to 
identify forward-looking statements or information. 
More particularly and without limitation, this press release contains forward 
looking statements and information concerning: the use of proceeds of the 
Offering; the expected timing of completion of the Offering; and the 
satisfaction of the conditions of closing of the Offering and on the 
anticipated timeframes. 
The forward-looking statements and information in this press release are based 
on certain key expectations and assumptions made by NuVista, including 
prevailing commodity prices and exchange rates; applicable royalty rates and 
tax laws; future well production rates; reserve and resource volumes; the 
performance of existing wells; the success obtained in drilling new wells; the 
sufficiency of budgeted capital expenditures in carrying out planned 
activities; the availability and cost of labour and services; the satisfaction 
of the conditions of closing of the Offering on the timing planned; and the 
receipt, in a timely manner, of regulatory and other required approvals. 
Although NuVista believes that the expectations and assumptions on which such 
forward-looking statements and information are based are reasonable, undue 
reliance should not be placed on the forward-looking statements and 
information because NuVista can give no assurance that they will prove to be 
Since forward-looking statements and information address future events and 
conditions, by their very nature they involve inherent risks and 
uncertainties. Actual results could differ materially from those currently 
anticipated due to a number of factors and risks. These include, but are not 
limited to the risks associated with the oil and gas industry in general such 
as: operational risks in development, exploration and production; delays or 
changes in plans with respect to exploration or development projects or 
capital expenditures; the uncertainty of reserve estimates; the uncertainty of 
estimates and projections relating to reserves, production, costs and 
expenses; health, safety and environmental risks; commodity price and exchange 
rate fluctuations; marketing and transportation of petroleum and natural gas 
and loss of markets; environmental risks; competition; incorrect assessment of 
the value of acquisitions; failure to realize the anticipated benefits of 
acquisitions; failure to satisfy conditions to closing of the Offering; 
failure to obtain the necessary regulatory and other approvals, including 
stock exchange approvals and on the timelines planned; risks that conditions 
to closing of the Offering are not satisfied; risk that the Board of Directors 
determines that it would be in the interests of NuVista to deploy the proceeds 
from the Offering to some other purpose; ability to access sufficient capital 
from internal and external sources; stock market volatility; and changes in 
legislation, including but not limited to tax laws, royalty rates and 
environmental regulations. 
Readers are cautioned that the foregoing list of factors is not exhaustive. 
Additional information on these and other factors that could affect the 
operations or financial results of NuVista are included in reports on file 
with applicable securities regulatory authorities and may be accessed through 
the SEDAR website ( 
Readers are cautioned that the assumptions used in the preparation of such 
information, although considered reasonable at the time of preparation, may 
prove to be imprecise and, as such, undue reliance should not be placed on 
forward-looking statements. NuVista's actual results, performance or 
achievement could differ materially from those expressed in, or implied by, 
these forward-looking statements, or if any of them do so, what benefits 
NuVista will derive therefrom. NuVista disclaims any intention or obligation 
to update or revise any forward-looking statements, whether as a result of new 
information, future events or otherwise, except as required by law.

SOURCE  NuVista Energy Ltd. 
Jonathan Wright President and CEO (403) 538-8501 
Robert F. Froese VP, Finance and CFO (403) 538-8530  
To view this news release in HTML formatting, please use the following URL: 
CO: NuVista Energy Ltd.
ST: Alberta
-0- Nov/12/2013 22:18 GMT
Press spacebar to pause and continue. Press esc to stop.