Sonde Resources Corp
Exploration and production of oil and natural gas.
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit Portfolio

AGORACOM News Flash

VIDEO - FRESH OFF THE WEBCAM - AGORACOM SMALL CAP BEST OF THE BEST - OCTOBER 29, 2014

George and Allan Discuss:

  • The TSX Venture Exchange
  • Top Small Cap Stock Picks
  • Buy Now or Wait ... Tax Loss Selling Strategies

WHAT ARE SMALL CAP INVESTORS SAYING?

"Thank-You Very Much. I Love The Show. I Discovered You Guys A Couple Of Days Ago And Will Now Become A Regular Viewer!" (Sean Reid)

CLICK ON IMAGE BELOW TO WATCH WHAT YOU'VE BEEN MISSING!



Message: Niko block 5c TnT $75m

Generic_profile
Rank: [?]
President
Points: [?]
18143
Rating: [?]
Votes: 104 Score: 3.9
  • Currently 3.9/5 Stars.
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Niko block 5c TnT $75m

posted on Dec 31, 10 07:24PM

CALGARY, ALBERTA (Marketwire – Dec 22, 2010) – Niko Resources Ltd. ("Niko") (TSX: NKO) announced today that it has reached an agreement with Sonde Resources Corp. ("Sonde"), under which Niko will acquire Sonde’s 25% interest in Block 5(c), located 94 kilometers off the east coast of Trinidad. The transaction is to be satisfied at closing via US $75.5 million in cash, and the assumption of Sonde's liability under the performance guarantee provided for their Block MG license.

The agreement is subject to the satisfaction of certain conditions including waiver of rights of first refusal and approval from the Ministry of Energy and Energy Affairs for Trinidad and Tobago. Closing is expected to occur on February 28, 2011, subject to extension to facilitate obtaining all required approvals. Niko has agreed to pay a secured refundable deposit of USD $20 million to Sonde upon receipt of a waiver of the rights of first refusal in respect of Block 5(c).

Each of the three wells drilled to date on Block 5(c) have encountered hydrocarbons and have been successfully tested. Niko is pleased to have the opportunity to expand in Trinidad and Tobago, a core area for the company.

December 22, 2010

For further information, please

New Message

Please login to post a reply

AGORACOM Quick Tips

Bullish On China? AGORACOM Launches ChinaSecurities.com ... Check It Out

President's D.D.

New feature: Hub Presidents can add important links here.

Hub Leaders