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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tenth Avenue Petroleum Corp | TSXV:TPC | 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% | 0.11 | 0.11 | 0.135 | 0 | 20:59:59 |
NOT FOR DISTRIBUTION TO U.S NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES Sea Dragon Energy Inc. ("Sea Dragon") (TSX VENTURE:SDX) is pleased to announce it has entered into an Alliance Agreement with Tanmia Petroleum Company ("TPC"), an company incorporated in Egypt and owned one hundred percent by the Egyptian General Petroleum Corporation ("EGPC"). Under the terms of this Alliance Agreement, Sea Dragon and TPC will have the exclusive right to jointly appraise, develop and produce hydrocarbons from certain undeveloped and under-developed oil and natural gas opportunities located in the Arab Republic of Egypt. EGPC currently has technical information for an inventory of selected opportunities in oil and gas concessions or development leases which may become available for allocation to TPC. Sea Dragon jointly with TPC will appraise the information available; evaluate the potential of these fields and select from amongst the field(s) which we wish to submit a development application to EGPC on terms to be negotiated between the parties. Mr. Said Arrata chairman and CEO of Sea Dragon said, "We are delighted with the signing of this Alliance Agreement which will provide Sea Dragon with additional opportunities to acquire further interests in Egypt in discovered and undeveloped or under-developed concessions. At present the Sea Dragon management are evaluating available data on several opportunities we wish to pursue. This agreement with Tanmia is another step in Sea Dragon's strategy of identifying low risk development projects in Egypt to create growth in the company". For further information please see the website of the Company at www.seadragon.ca or the Company's filed documents at www.sedar.com. Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading Risk Factors and elsewhere in the Company's filings with Canadian securities regulators. Specifically that there is no assurance that any hydrocarbon reserves will be discovered nor is there any assurance that any hydrocarbons encountered will be in commercially recoverable quantities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and expect as may be required by applicable securities laws. Sea Dragon is an international exploration and development company with a focus on the Middle East and an office in Cairo Egypt. The TSX.V Venture Exchange has neither approved nor disapproved of the information contained herein.
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