Stetson Enters Into Investment Agreement
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/24/13 -- Stetson Oil & Gas Ltd. (TSX VENTURE: SSN) has entered into an agreement (the "Agreement") with a private company ("Privateco") that is looking to evaluate and acquire interests in oil and gas exploration blocks onshore and offshore in Southeast Asia (the "Blocks").
In connection with the Agreement, Stetson will provide Privateco with USD$700,000 (the "Advance") and shall have first right in respect of a possible investment or conversion of the Advance into an interest in Privateco, once it has successfully secured an asset. In the event that Privateco acquires an asset and a definitive agreement between the parties is not executed prior to the expiry of the Agreement, or if the parties terminate the Agreement, Stetson shall immediately be reimbursed the Advance and shall also receive an additional fee as compensation for its role.
The term of the Agreement is for a period of 12 months, subject to extension or early termination as agreed among the parties.
Stetson is a junior oil and gas company with exploration assets in North Dakota, USA.
Regulatory Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the terms and conditions of the Agreement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Stetson, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate acquired properties; foreign operations risks; and other risks inherent in the oil and gas industry. Although Stetson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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 RELEASE.
Contacts:
Stetson Oil & Gas Ltd.
Ahmed Said
President and CEO
+1 (403) 263 3000
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 24.07.2013 - 23:00 Uhr
Sprache: Deutsch
News-ID 281586
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 235 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Stetson Enters Into Investment Agreement"
steht unter der journalistisch-redaktionellen Verantwortung von
Stetson Oil & Gas Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
