Centor Energy Inc Signs $1.25 Million in Financing
2014年2月4日 - 11:20PM
CENTOR ENERGY INC (OTCQB:CNTO) is pleased to announce that it has
executed a $1.25 million loan agreement with a private lender
Fortuitus Investments, Inc.. The loan will be funded in phases and
partial proceeds will be used to complete the pending acquisition
of the 55% working interest in the Pasquia Hills Oil Shale Project
scheduled for February 16, 2014 as well as to complete the Hatch
Ltd. feasibility study to determine economic criteria for
commerciality and refine an operational plan to extract the oil
shale resource. The Company has previously received $350,000 from
this lender and has a successful working history.
James Michael Sullivan, President and CEO of Centor Energy
stated: "Pasquia Hills was first explored by Sun Oil in
1964. In September of 2006 a more aggressive exploration
permit was granted and in excess of $2.5 million has been spent in
exploration and proving these reserves, to the extent that in 2013
a 15 year working lease was approved and granted with an effective
starting date of March 7, 2013. Now on February 16, 2014
Centor Energy will own a 55% working interest in this extraordinary
oil shale project. This is a major milestone accomplishment and I
cannot understate the importance of this acquisition for the
Company. It is extremely important to recognize the Hatch
feasibility study is one of the final steps to operationalize this
project, a project with over 1.1 billion barrels of contingent
resources. The shallow overburden and economic feasibility of this
project as reported in the Chapman Petroleum Engineering, Ltd
December 1, 2013 Evaluation Report is truly exciting and I
encourage all shareholders to read the full report available on our
website. (www.centorenergyinc.com). I would also like to take this
opportunity to acknowledge the confidence and further validation by
our lender in providing financing. It is extremely important
to have a lender who understands the petroleum and energy sectors
as well as believes in our management team and we look forward to a
long continuing relationship as we explore new opportunities for
the Company."
We look forward to further updates as we complete the closing
and continue to develop the oil shale resources in Pasquia
Hills.
For further Information and inquiries please call:
866-491-3128.
About Centor Energy Inc. Centor Energy
Inc. is an emerging energy company that develops and explores oil
and gas and mining opportunities throughout the world with a focus
on oil and gas in North America. The Company's management has
a unique network and expertise to source new project opportunities
within the petroleum, energy and mining sectors. The Company
has an aggressive strategy and technical expertise targeting
undervalued projects that require additional resources that can be
leveraged to create long-term capital growth and shareholder
value.
Safe Harbor Statement
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Centor Energy, Inc. encourages those interested
in our Company to rely only on information included in
our filings with the United States Securities and Exchange
Commission which can be found at www.sec.gov. Statements released
by Centor Energy, Inc. that are not purely historical are
forward-looking within the meaning of the "Safe Harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including
statements regarding the company's expectations, hopes, intentions,
and strategies for the future. Investors are cautioned that
forward-looking statements involve risk and uncertainties that may
affect the company's business prospects and performance. The
company's actual results could differ materially from those in such
forward-looking statements. Risk factors include but are not
limited to general economic, competitive, governmental, and
technological factors as discussed in the company's filings with
the SEC on Forms 10-K, 10-Q, and 8-K. The company does not
undertake any responsibility to update the forward-looking
statements contained in this release.
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