DGAP-News: PETROLOG ENERGY, INC. ISSUES STATEMENT CLARIFYING OWNERSHIP OPL 917 AND NATURAL GAS PROCESSING AGREEMENT
(firmenpresse) - DGAP-News: Petrolog Energy Inc. / Key word(s): Miscellaneous
PETROLOG ENERGY, INC. ISSUES STATEMENT CLARIFYING OWNERSHIP OPL 917
AND NATURAL GAS PROCESSING AGREEMENT
21.02.2012 / 11:00
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PETROLOG ENERGY, INC. ISSUES STATEMENT CLARIFYING OWNERSHIP OPL 917 AND
NATURAL GAS PROCESSING AGREEMENT
Company
TORONTO, CANADA- Petrolog Energy, Inc., (Deutsche Boerse, Frankfurt
Exchange, (PT2), an Ontario Province Canada public company announced that
prior to listing on the Frankfurt Stock Exchange, it had completed its
acquisition of 18% interest in OPL 917 prospect from Petrolog Oil and Gas
Limited, (a Nigerian Registered Company) pursuant to a deed of assignment.
The investment into OPL 917 is carried as an asset on the balance sheet of
Petrolog Energy and has been certified by Felix A. Okai&Associates of
Ontario, Canada.
Petrolog Energy Inc., also announced that it has entered into a definitive
Technical and Commercial Operations agreement with Petrolog Oil and Gas
(Nig.) Limited to commercialize the accelerated natural gas development
program that Petrolog Oil and Gas had previously entered into with the
Nigeria Ministry of Petroleum Resources.
Petrolog Energy Inc. Chief Executive Officer, George Ebuh commented, 'We
feel it is important for us to explicitly clarify to our shareholders, both
the ownership of OPL 917 and nature of the relationship between Petrolog
Oil and Gas Nigeria Limited and Petrolog Energy as it pertains to the very
large and significant opportunity with the accelerated gas processing
agreement.'
About Petrolog Energy, Inc.
Petrolog Energy is an independent oil and gas exploration and development
company with a diverse portfolio of high-quality assets. Petrolog Energy
was formed as a unit of Petrolog Group to capitalize on low-risk,
high-reward proven and underdeveloped oil and gas fields in Africa. For
more information, go to www.petrologenergy.com.
About Petrolog Group
Petrolog Group, a private company, was established 30 years ago as an oil
service company. Over the years Petrolog has expanded its services to
include Drilling, Mud Logging and Mud Engineering, Geophysical Exploration,
Engineering Design and Project Management.
Petrolog is represented in 4 continents with over 12 offices in 6
countries. With a strong and dedicated workforce (650 employees) Petrolog
is positioned to respond to client needs globally.
Forward Looking Statements
Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of historical
facts may be forward-looking statements. Forward-looking information is
inherently subject to risks and uncertainties, and actual results could
differ materially from those currently anticipated due to a number of
factors, which include, but are not limited to, risk factors inherent in
doing business. Forward-looking statements may be identified by terms such
as 'may,' 'will,' 'should,' 'could,' 'expects,' 'plans,' 'intends,'
'anticipates,' 'believes,' 'avers,' 'estimates,' 'predicts,' 'forecasts,'
'potential,' or 'continue,' or similar terms or the negative of these
terms. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements. The company has
no obligation to update these forward-looking statements.
Contact:
Petrolog Energy, Inc.
George Ebuh
TEL: (713) 961-3324
FAX: (713) 961-3845
End of Corporate News
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Unternehmensinformation / Kurzprofil:
Datum: 21.02.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 116494
Anzahl Zeichen: 5667
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Kategorie:
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