Esrey Energy Announces Surrender of Stock Options
12 February 2014 - 12:15PM
Marketwired
Esrey Energy Announces Surrender of Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Esrey Energy Ltd. ("Esrey" or the "Company") (TSX-VENTURE:EEL)
announces that an aggregate of 880,250 stock options of the Company
("Options") have been voluntarily surrendered by the holders of
such Options. The surrender of Options is effective immediately and
was completed for nil consideration. Following the surrender of
such Options, the Company has 1,413,250 Options outstanding
pursuant to the option plan of the Company, which represents, in
aggregate, approximately 5% of the issued and outstanding common
shares of the Company ("Common Shares").
About Esrey
Esrey is a Canadian exploration and development company focused
on developing oil and gas properties in Papua New Guinea, Poland
and Bulgaria. Esrey holds in Papua New Guinea a 16.85% net interest
in PPL 319 and an 84.25% interest in 3 additional PPLs in northern
Papua New Guinea (which collectively cover approximately 5.5
million gross acres) and a 20% net interest in PRL 13 (which covers
approximately 42,000 gross acres). Esrey has entered into a farm-in
agreement with subsidiaries of Heritage Oil PLC under which those
subsidiaries acquired an 80% interest in PPL 319 and PRL 13,
subject to fulfillment of work commitments under the farm-in
agreement. Esrey has a 42.96% net interest in approximately 734,000
gross acres of prospective shales in Poland together with BNK
Petroleum Inc. Esrey is operator and has a 50% net interest in
approximately 360,000 gross acres of prospective shales in Poland
together with San Leon Energy. Esrey has entered into a farm-in
agreement relating to 405,080 acres of prospective argillite
formation in Bulgaria with Direct Petroleum Bulgaria EOOD, a
subsidiary of TransAtlantic Petroleum Ltd. Esrey also holds a 100%
working interest (80% net revenue interest) in approximately 3,670
net mineral acres of oil and gas leases in Daniels and Sheridan
Counties located in north east Montana as well as a 100% working
interest (79% net revenue interest) in approximately 46,700 net
acres of oil and gas leases in Cascade County, in western Montana.
Esrey shares trade on the TSX Venture Exchange under the symbol
"EEL".
ESREY ENERGY LTD.
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
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including information regarding the board
change. Forward-looking information is based on plans and estimates
of management at the date the information is provided and certain
factors and assumptions of management. Forward looking information
is subject to a variety of risks and uncertainties and other
factors that could cause plans, estimates and actual results to
vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking
information in this news release to change or to be inaccurate
include, but are not limited to, the risks related to
unsatisfactory results of due diligence, international operations
and doing business in foreign jurisdictions, risks associated with
the oil and gas industry and exploratory and development activities
generally (e.g., operational risks in development, exploration and
production, delays or changes in plans with respect to exploration
or development projects or capital expenditures, risks associated
with equipment procurement and equipment failure), the risk of
commodity price and foreign exchange rate fluctuations, risks
related to future royalty rate changes, and risks and uncertainties
associated with securing and maintaining necessary regulatory
approvals, and counterparty risk related to the stability and
viability of the Company's joint venture participants.
Esrey Energy Ltd.Investor
relations1-778-373-0103info@esreyenergy.com
Esrey Energy Ltd. (TSXV:EEL)
Historical Stock Chart
From May 2024 to Jun 2024
Esrey Energy Ltd. (TSXV:EEL)
Historical Stock Chart
From Jun 2023 to Jun 2024