VALEURA ANNOUNCES EXERCISE OF OPTION BY COUNTERPARTY TO ACQUIRE ASSETS IN TURKEY
2011年2月11日 - 10:40AM
PR Newswire (Canada)
CALGARY, Feb. 10 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./ CALGARY, Feb. 10 /CNW/ -
Valeura Energy Inc. ("Valeura" or the "Corporation") (TSX-V: "VLE")
is pleased to announce that it received notice today that
TransAtlantic Worldwide Ltd. ("TransAtlantic"), a wholly-owned
affiliate of TransAtlantic Petroleum Ltd., exercised the option set
forth in the option agreement dated November 8, 2010 previously
announced by TransAtlantic to acquire all of the shares of Thrace
Basin Natural Gas Turkiye Corporation and Pinnacle Turkey, Inc. for
consideration of US$100 million in cash and 18.5 million
common shares of TransAtlantic Petroleum Ltd. The effective date of
the acquisition will be October 1, 2010. The exercise of the
option by TransAtlantic was one of the conditions to the previously
announced conditional offer (the "Offer") between TransAtlantic and
Valeura whereby Valeura has agreed to acquire (the "Acquisition")
natural gas production of approximately 10.0 mmcfd (net before
royalties), 546,030 net acres of land in the Thrace and Anatolian
basins of Turkey (the "Assets") and exposure to a world-class
unconventional tight gas opportunity in the Thrace Basin for a
purchase price of approximately US$61.5 million in cash. Additional
information with respect to the Acquisition and the Assets,
including other conditions required to be satisfied prior to
closing of the Acquisition, are set forth in the Corporation's
February 9, 2011 press release. The Corporation is also pleased to
announce that, while trading of its stock was temporarily halted in
accordance with TSX Venture Exchange's customary practices for a
transaction of this nature, trading of its common shares on the TSX
Venture Exchange resumed on February 10, 2011. ABOUT THE
CORPORATION Valeura Energy Inc. is a Canada-based public company
currently engaged in the exploration, development and production of
petroleum and natural gas in Turkey and Western Canada. The
Corporation is continuing to pursue a strategy to expand
internationally in Turkey and to other selected countries in the
Middle East and North Africa region, the Mediterranean Basin and
Latin America. FORWARD-LOOKING INFORMATION This news release
contains certain forward‐looking statements relating, but not
limited, to the proposed Acquisition and the satisfaction of
conditions for closing thereof and tight gas opportunities in the
Thrace Basin of Turkey. The Corporation cautions readers and
prospective investors in the Corporation's securities not to place
undue reliance on forward‐looking information as, by its nature, it
is based on current expectations regarding future events that
involve a number of assumptions, inherent risks and uncertainties,
which could cause actual results to differ materially from those
currently anticipated by the Corporation. Forward-looking
information is based on management's current expectations and
assumptions. The forward‐looking information included in this news
release is expressly qualified in its entirety by this cautionary
statement. The forward‐looking information included herein is made
as of the date hereof and Valeura assumes no obligation to update
or revise any forward‐looking information to reflect new events or
circumstances, except as required by law. Additional information
relating to Valeura is also available on SEDAR at www.sedar.com.
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 news release. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/10/c9897.html
pJim McFarland, President and CEObr/ Valeura Energy Inc.br/ (403)
930-1150br/ a href="mailto:jmcfarland@valeuraenergy.com"jmcfarl/aa
href="mailto:jmcfarland@valeuraenergy.com"and@valeuraenergy.com/a/p
p align="justify"Steve Bjornson, CFObr/ Valeura Energy Inc.br/
(403) 930-1151br/ a
href="mailto:sbjornson@valeuraenergy.com"sbjorn/aa
href="mailto:sbjornson@valeuraenergy.com"son@valeuraenergy.com/a/p
p align="justify"a
href="http://www.valeuraenergy.com"www.valeuraenergy.com/a/p
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