2013-01-03 22:43:32 -
London, Ontario CANADA, January 03, 2013 /FSC/ - Tribute Resources Inc. (TRB - TSX Venture), ("Tribute") is very pleased to announce that it has received favorable decisions on all its Phase 2 Huron gas storage and related facilities and pipeline applications to the Ontario Energy Board ("OEB") for the Bayfield and Stanley Pools. In its Decisions with Reasons, the Board recognized the reality, complexity and extended timeframe necessary to complete these projects, taking into account market conditions. This decision appears to represent a positive step forward for project developers in Ontario, requiring OEB leave to construct approvals, where developers, not ratepayers, are accepting the risk of developing energy projects. The OEB decision also appears to open the door to the
possibility of developers requesting extensions to project timelines if sufficient reasons justify amendments to project schedules.
About Tribute Resources Inc.
Tribute is a Canadian publicly traded energy company incorporated under the Business Corporation Act of the Province of Alberta on May 15, 1997. Tribute's primary focus is on adding value to shareholders by developing and maintaining a long-term interest in market-based priced underground natural gas storage assets and renewable energy projects in the Province of Ontario. Tribute's objective is to build a company capable of delivering and sustaining long-term per share growth by developing energy projects that will generate stable long-term cash flow when fully operational. Tribute's business plan is to build upon its current asset base to identify, permit, develop, and construct projects that meet its threshold return criteria. Tribute creates value by identifying project opportunities, providing the expertise to develop the projects and maintaining an interest in the completed assets to build long-term stable utility quality cash flow from a strong and diversified energy related asset base. For more information please visit www.tributeresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CFO, Tribute Resources Inc.
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Source: Tribute Resources Inc. (TSX-V: TRB) www.tributeresources.com
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