VANCOUVER, Jul 18, 2013 - Pennant Energy Inc. ("Pennant" or the "Company") (TSX VENTURE:PEN) announces that it has received approval from the TSX Venture Exchange (the "Exchange") to the Farmout Agreement (the "Agreement") with Blackbird Energy Inc. ("Blackbird"), whereby Blackbird has agreed to allow the Company to earn a 30% working interest in certain lands and leases (the Farmout Lands") owned by Blackbird in Mantario area of West Central Saskatchewan. In order to earn its 30% interest, the Company will pay to Blackbird, within 15 days of receipt of the approval of the Exchange, the following: (i) 50% of the land acquisition costs incurred to date including brokerage and transfer costs ($200,000 net estimated), and (ii) 50% of the 3D seismic program including geological and geophysical interpretation ($125,000 net estimated). In addition, the Company has agreed to pay 50% of the drilling, completing, equipping and tie-in costs of the test well to earn the working interest.
About Pennant Energy
Pennant's core project is the Bigstone Project and is comprised of lands and licenses covering a total of 5,120 acres (net 1,120 acres), in Township 60, ranges 22 and 23W5 at Bigstone, Alberta. By completing the terms of a farm in agreement with Donnybrook Energy Inc., Pennant earned 25 per cent of Donnybrook's interest in the Bigstone lands and in any future operations within an area of mutual interest.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLCIEIS OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact
QIS Capital Corporation Doren Quinton (250) 377-1182 info@qiscapital.com
Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!
VANCOUVER, Jul 18, 2013 - Pennant Energy Inc. ("Pennant" or the "Company") (TSX VENTURE:PEN) announces that it has received approval from the TSX Venture Exchange (the "Exchange") to the Farmout Agreement (the "Agreement") with Blackbird Energy Inc. ("Blackbird"), whereby Blackbird has agreed to allow the Company to earn a 30% working interest in certain lands and leases (the Farmout Lands") owned by Blackbird in Mantario area of West Central Saskatchewan. In order to earn its 30% interest, the Company will pay to Blackbird, within 15 days of receipt of the approval of the Exchange, the following: (i) 50% of the land acquisition costs incurred to date including brokerage and transfer costs ($200,000 net estimated), and (ii) 50% of the 3D seismic program including geological and geophysical interpretation ($125,000 net estimated). In addition, the Company has agreed to pay 50% of the drilling, completing, equipping and tie-in costs of the test well to earn the working interest.
