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VANGOLD EXTENDS EXPLORATION AND DEVELOPMENT LICENCES FOR PETROLEUM IN ARMENIA
http://www.nasdaq.com/article/vangold-extends-exploration-and-development-licences-for-petroleum-in-armenia-cm209200#.UP2HBB002e0
By Midnight Trader, January 21, 2013, 12:39:04 PM EDT
Vangold Resources Ltd. (VAN.V) and joint venture partner Blackstairs
Energy PLC announced that they have received the first two year
extension of their Petroleum Exploration and Production Sharing
Agreement (PEPSA) with the Government of the Republic of Armenia.
The two firms entered into a five year PEPSA with the government of
Armenia in 2007.
Under the terms of the agreement, the joint venture partners can apply
for two extensions of two years each. The extension announced today
represents the first of the two periods and will keep the PEPSA in
good standing until December 30, 2014.
"This development allows Vangold to focus on creating a well-financed
corporate spin-off entity with a mandate to advance exploration on
this highly prospective land package," says Bruce Counts, President
of Vangold Resources Ltd.
The views and opinions expressed herein are the views and opinions
of the author and do not necessarily reflect those of The NASDAQ OMX
Group, Inc.
http://www.nasdaq.com/article/vangold-extends-exploration-and-development-licences-for-petroleum-in-armenia-cm209200#.UP2HBB002e0
By Midnight Trader, January 21, 2013, 12:39:04 PM EDT
Vangold Resources Ltd. (VAN.V) and joint venture partner Blackstairs
Energy PLC announced that they have received the first two year
extension of their Petroleum Exploration and Production Sharing
Agreement (PEPSA) with the Government of the Republic of Armenia.
The two firms entered into a five year PEPSA with the government of
Armenia in 2007.
Under the terms of the agreement, the joint venture partners can apply
for two extensions of two years each. The extension announced today
represents the first of the two periods and will keep the PEPSA in
good standing until December 30, 2014.
"This development allows Vangold to focus on creating a well-financed
corporate spin-off entity with a mandate to advance exploration on
this highly prospective land package," says Bruce Counts, President
of Vangold Resources Ltd.
The views and opinions expressed herein are the views and opinions
of the author and do not necessarily reflect those of The NASDAQ OMX
Group, Inc.