Point Loma Resources Ltd. announces that the directors of the Corporation have resigned, the officers have been terminated and the senior secured creditors have been given consent to appoint a receiver-manager. The board of directors of the Corporation has been notified by the Senior Secured Creditors that they are making arrangements for the [...]
Point Loma Resources Ltd. announces the cessation of all operations effective May 21, 2020. The board of directors, after extensive and careful consideration, have determined that Point Loma's business is no longer viable. In the present economic environment, Point Loma has been unable to refinance or recapitalize its business, and the Corporation [...]
Point Loma Resources Ltd. provides the following update on the Temporary Relief from Regulatory Filings. In a press release dated April 20, 2020, the Corporation announced that the Alberta Securities Commission , along with the other jurisdictions of the Canadian Securities Administrators, had published temporary blanket relief for market [...]
Point Loma Resources Ltd. which controls a land base of over 161,000 net acres and a deep inventory of oil and gas opportunities, is pleased to announce the execution of a binding letter of intent outlining a farmout agreement with a private company which includes a commitment by Privco to drill a horizontal well on at least one of the [...]
Point Loma Resources Ltd. announces the sale of 97.5% of its remaining Wizard Lake assets to the Corporation's secured debenture holders and a secured creditor in exchange for cancellation of all of the outstanding secured debentures and all amounts owed to the secured creditor. The total consideration amounts to approximately $2.9 million. Sale of [...]
Point Loma Resources Ltd. announces the termination of further closing steps in the previously announced disposition of the Wizard Lake Property. Termination of Purchase and Sale Agreement Further to the Corporation's press release on December 17, 2019, the Corporation has been advised in writing by Whitebark Energy Ltd. that they will not be [...]
Point Loma Resources Ltd. is pleased to provide an update regarding the issuance of shares to debenture holders of the Corporation. Forbearance Fees Further to the Corporation's press release on January 28, 2020, the Corporation issued 803,605 common shares as a forbearance fee to each of Kasten Resources Inc. and Richard Yurko for an aggregate [...]
Point Loma Resources Ltd. is pleased to provide an update regarding the transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta and relating to an issuance of shares to debenture holders of the Corporation. Highlights As per the Corporation's December 24, 2019 press release, Point Loma has completed the first [...]
Point Loma Resources Ltd. is pleased to announce the first closing of a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights As per the December 17, 2019 press release, Point Loma has completed the first closing of the Wizard Lake transaction with the receipt of $1.2 million cash consideration [...]
Point Loma Resources Ltd. is pleased to announce a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights Point Loma has entered into a Purchase and Sale agreement with White Bark Energy Ltd. , the parent company of Salt Bush Energy Ltd. , to transfer its working interests in the Wizard Lake area [...]
Point Loma Resources Ltd. reports its financial and operating results for the three and nine months ended September 30, 2019. Highlights of the period and additional updates are summarized below: Q3 - 2019 Financial and Operating Results Three months ended September 30 Nine months ended September 30 2019 2018 2019 2018 Financial Petroleum and [...]
Point Loma Resources Ltd. is pleased to announce the upcoming drilling of the second delineation well at Wizard Lake and the expansion of production facilities. Highlights Partner Salt Bush Energy Ltd. has elected to drill the second farm-out well under the Wizard Lake farm-out agreement and intends to spud the HZ 13-4-48-27W4 well in mid-November [...]
+287,50 %
-44,44 %