Sonde Resources Corp

Exploration and production of oil and natural gas.

Free
AGORACOM NEWS FLASH

BREAKING NEWS!!!

Tetra Bio-Pharma Reports Approval by Health Canada of its Phase 1 Trial of dried Cannabis

  • Health Canada approved phase I clinical study of smoked cannabis

We are very pleased to announce the authorization of the Phase I clinical trial by TPD. This is an important milestone in the clinical development of smoked Cannabis in North America and we are proud to be working with Algorithme pharma, a Clinical Research Organization with many years of experience and expertise in the conduct of Phase I clinical studies, said Dr. Chamberland, Chief Science Officer.

Tbp large

Hub On AGORACOM / Read Release

 

Message: Niko block 5c TnT $75m

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

Share
New Message
Please login to post a reply