Sonde Resources Corp. Announces Extension of Exploration Period and Payment of the USD $12.5 Million Obligation on the Joint Oil Block
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 01/16/12 -- Sonde Resources Corp. ("Sonde" or the "Company") (TSX: SOQ) (NYSE Amex: SOQ) announced today that it has received a one year extension to December 23, 2013, on the first phase of the Exploration period to conduct operations on the Joint Oil Block in North Africa. This extension is conditioned on commencement of the three well drilling program in September 2012, which is Sonde's remaining obligation after completion of a 500 sq km 3D seismic survey that is underway. We expect to finish the survey field work by the end of January. In addition, Sonde has paid the USD $12.5 million obligation known as the Mariner Swap Agreement that was due in August 2011. Sonde could not make payment while under force majeure and until sanctions were lifted against Libya. Joint Oil is equally owned by Tunisian and Libyan entities.
Jack Schanck, Sonde's CEO, said, "This is another milestone in continuing our development of the Zarat Field on the Joint Oil Block, the extension allows us flexibility in fulfilling our obligations under the Exploration Production and Sharing Agreement and working towards a production license around Zarat. The extension will further allow us to seek funding for the Zarat commitments."
Sonde Resources Corp. is a Calgary, Alberta, Canada based energy company engaged in the exploration and production of oil and natural gas. Its operations are located in Western Canada and offshore North Africa. See Sonde's website at to review further detail on Sonde's operations.
Contacts:
Sonde Resources Corp.
Investor Relations
(403) 294-1411
(403) 216-2374 (FAX)
Sonde Resources Corp.
Suite 3200, 500 - 4th Avenue S.W.
Calgary, Alberta, Canada T2P 2V6
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.01.2012 - 14:58 Uhr
Sprache: Deutsch
News-ID 104359
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 176 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sonde Resources Corp. Announces Extension of Exploration Period and Payment of the USD $12.5 Million Obligation on the Joint Oil Block"
steht unter der journalistisch-redaktionellen Verantwortung von
Sonde Resources Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
