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NTN

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Share Name Share Symbol Market Type
TSXV:NTN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Newton Energy Corporation Announces License Extension and Termination of Gambia Farm-In

04/02/2014 10:44pm

Marketwired Canada


Newton Energy Corporation (the "Company" or "Newton") (TSX VENTURE:NTN)
announces that one-year extensions to Licences PEDL254 and PEDL208 have been
granted by the Department of Energy and Climate Change of the Government of the
United Kingdom. The extensions provide the Company with additional time to meet
and to drill the outstanding commitment well on each of PEDL254 and Belvoir. The
second term date of the licenses has not changed.


"The Company is actively in discussions to farm-out and/or joint venture its
licenses to see its Belvoir and PEDL254 prospects drilled and this extension
paves the way to conclude our negotiations," said Merv Chia, Interim CEO.


The Company announces that further to the Company's previously announced farm-in
agreement (the "Farm-In Agreement") with Buried Hill Gambia BV ("Buried Hill")
to earn a 13.33% equity working interest in two offshore blocks in Gambia, the
licenses for the two offshore blocks owned by Buried Hill have expired so the
Farm-In Agreement has been terminated. There are no additional obligations or
costs incurred in this termination.


About Newton

Newton holds UK East Midlands assets and is an emerging exploration and
production company. 


ADVISORY

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 release. 


This news release may contain certain forward-looking information and
statements, including without limitation, statements pertaining to the extension
of PEDL254 and PEDL208 and the termination of the Farm-In Agreement. Statements
included herein, other than statements of historical fact, including, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in Newton's disclosure documents on the SEDAR website at
www.sedar.com. Newton does not undertake to update any forward-looking
information except in accordance with applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Newton Energy Corporation
Merv Chia
Interim CEO and Chairman
merv.chia@newtonenergy.ca


Newton Energy Corporation
Art Bray
CFO
1 403 410-3822
art.bray@newtonenergy.ca

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