ST. HELIER, Jersey, March 19, 2015
/CNW/ - EastSiberian Plc (TSXV NEX: ESB.H) ("EastSiberian" or the
"Corporation"), a Jersey company, announces that it has signed a
cooperation agreement (a letter of intent) with Empresa
Nicaraguense del Petróleo, the Nicaraguan national oil company
("Petronic") with the intention of finding ways to cooperate in oil
and gas activities in Nicaragua.
The consortium (EastSiberian and Petronic) intends to submit a
request to the Nicaraguan Ministry of Energy and Mines (MEM) for
approval of the EastSiberian group of companies as a qualified
exploration and exploitation contractor in Nicaragua and thereafter to submit a request
to MEM for approval to start exclusive negotiations for concession
contracts. This is an early phase, but a first step towards
possible exploration activities in Nicaragua.
Mr. Phipps, the President of the Corporation, stated that he was
"very pleased to have achieved this important first milestone in
its efforts to obtain oil concessions in Nicaragua and looks forward to working with
Petronic".
About EastSiberian
EastSiberian is an international junior oil exploration company
incorporated in the Bailiwick of Jersey. For further information,
please visit the EastSiberian Plc website at
www.eastsiberianplc.com. The common shares of the Corporation
are currently listed on the NEX.
As previously announced, the common shares of EastSiberian are
currently halted from trading on the NEX at the request of the
Corporation. The common shares will remain halted until the
Corporation completes a third-party engineering review of the
Nicaraguan oil and gas concessions and releases this to
shareholders.
Neither the 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.
Advisory Regarding Forward-Looking Statements
This press release contains certain forward-looking
statements and forward-looking information (collectively referred
to as "forward looking statements") within the meaning of Canadian
securities laws. All statements other than statements of historical
fact are forward-looking statements. Forward-looking information
typically contains statements with words such as "anticipate",
"believe", "plan", "continuous", "estimate", "expect", "may",
"will", "project", "should" or similar words suggesting future
outcomes. In particular, this press release include references to
the intention to file a request to MEM for approval of
EastSiberian group of companies as a qualified
exploration and exploitation contractor in Nicaragua and for approval to start exclusive
negotiations for concession contracts.
Undue reliance should not be placed on forward-looking
statements, which are inherently uncertain, are based on estimates
and assumptions, and are subject to known and unknown risks and
uncertainties (both general and specific) that contribute to the
possibility that the future events or circumstances contemplated by
the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which
forward-looking statements are based will in fact be realized and
in particular, that EastSiberian will become a qualified
exploration and exploitation contractor in Nicaragua, successfully conclude negotiations
for concession contracts or engage in exploration activities in
Nicaragua. Actual results
will differ, and the difference may be material and adverse to
EastSiberian and its shareholders.
The forward-looking statements contained in this press
release are made as of the date hereof and EastSiberian does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, except as required by
applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.
SOURCE EastSiberian Plc