PETROGRAND AB: RUSSIAN AUTHORITIES POSTPONE DECISION ABOUT MUROMSKIJ-2 LICENSE AREA
(Thomson Reuters ONE) -
Petrogrand has reported earlier that an application to obtain the right to
perform geological surveys on the Muromskij-2 license area in the Tomsk region
has been submitted through the Russian subsidiary Petrogrand Invest LLC.
When the application period expired on 4 February, one additional application
had been submitted. The authorities should have decided within 30 days whether
an auction will be arranged or if one of the applicants free of charge will be
granted the right to perform geological surveys on the Muromskij-2 license area.
The authorities are at present reviewing the other application to decide whether
it can be accepted and the decision concerning the allocation of the rights to
the license area has been postponed. The decision is expected around the turn of
the month March/April.
For further information, please contact:
Maks Grinfeld, CEO, phone: +46 8 5000 7810
Sven-Erik Zachrisson, Chairman, phone: +46 8 41 05 45 96
Certified Adviser First North: Mangold Fondkommission AB
Reasonable caution notice: The statement and assumptions made in the company's
information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or "forward looking statements" concerning Petrogrand's future
activities. Such future estimations comprise but are not limited to statements
that include words such as "may occur", "concerning", "plans", "expects",
"estimates", "believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of Petrogrand's expectations and
assumptions made on the basis of information available at that time.
These statements and assumptions are subject to a large number of risks and
uncertainties. These, in their turn, comprise but are not limited to i) changes
in the financial, legal and political environment of the countries in which
Petrogrand conducts business, ii) changes in the available geological
information concerning the company's projects in operation, iii) Petrogrand's
capacity to continuously guarantee sufficient financing to perform their
activities as a "going concern", iv) the success of all participants in the
group, or of the various interested companies, joint ventures or secondary
alliances, v) changes in currency exchange rates, in particular those relating
to the RUR/USD rate. Due to the background of the many risks and uncertainties
that exist for any oil-prospecting venture and oil production company in its
initial stage, Petrogrand's actual future development may significantly deviate
from that indicated in the company's informative statements.
Press Release PDF:
http://hugin.info/138739/R/1498176/433807.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Petrogrand AB via Thomson Reuters ONE
[HUG#1498176]
Unternehmensinformation / Kurzprofil:
Datum: 18.03.2011 - 16:13 Uhr
Sprache: Deutsch
News-ID 52574
Anzahl Zeichen: 3626
contact information:
Town:
Stockholm
Kategorie:
Business News
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"PETROGRAND AB: RUSSIAN AUTHORITIES POSTPONE DECISION ABOUT MUROMSKIJ-2 LICENSE AREA"
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