Sonde Resources Corp. Announces Joint Oil Approval of Assignments Required for Viking Farm-Out
26 Setembro 2013 - 6:05PM
Marketwired
Sonde Resources Corp. ("Sonde") (TSX:SOQ)(NYSE MKT:SOQ) announced
today that Joint Oil's Board of Directors and General Assembly have
approved the Assignments and the Amendment to the Exploration and
Production Sharing Agreement ("EPSA Amendment") required as
conditions precedent to closing the previously announced Viking
Farm-out agreement for the Joint Oil Block.
Sonde, Joint Oil and Viking will meet in the near term to
execute a series of documents associated with the Assignments and
EPSA Amendment. Thereafter, Sonde and Viking can proceed with
closing the farm-out, subject to, among other conditions, a
condition precedent that the previously disclosed US $50.995 MM
bank guarantee (of which Viking is responsible for US $40 MM and
Sonde is responsible for the remainder) must be fully funded prior
to closing.
Toufic Nassif, President Sonde North Africa, stated "Joint Oil's
approval of these agreements is a significant milestone on the path
to closing the Viking farm-out and pursuing the development of the
Zarat field and exploration of the Joint Oil Block. We are grateful
to Joint Oil, their Board and General Assembly for their support of
these initiatives and to Viking for the momentum that this
partnership will bring to the Joint Oil Block."
Sonde Resources Corp. is a Calgary, Alberta, Canada based Energy
Company engaged in the exploration and production of oil and
natural gas. Its operations are located in Western Canada and
offshore North Africa. See Sonde's website at
www.sonderesources.com to review further detail on Sonde's
operations.
Forward-looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities laws and "forward
looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements include,
among others, the closing of the Viking farm-out agreement, and the
terms of the of the farm-out agreement. Such forward-looking
information or statements are based on a number of assumptions
which may prove to be incorrect. Assumptions have been made
regarding, among other things, market and operating conditions,
future commodity prices, and management's expectations regarding
the availability of capital on terms acceptable to the Company.
Forward-looking information or statements are subject to a number
of risks and uncertainties and actual results could differ
materially from the forward-looking information and statements due
to a number of factors, including, without limitation, general
economic, market and business conditions; stock market volatility;
risks in conducting foreign operations, including political and
fiscal instability and the possibility of civil unrest or military
action; changes in government policies or laws; risk that
government approvals may be delayed or withheld; lack of, or
restricted access to, sources of financing; and commercial risks
associated with the Joint Oil Block. Additional assumptions and
risks are set out in detail in the Company's Annual Information
Form, available on SEDAR at www.sedar.com., and the Company's
annual reports on Form 40-F on file with the U.S. Securities and
Exchange Commission.
Although management believes that the expectations reflected in
the forward-looking information or forward- looking statements are
reasonable, prospective investors should not place undue reliance
on forward-looking information or forward-looking statements
because Sonde can provide no assurance those expectations will
prove to be correct. Sonde bases its forward-looking statements and
forward-looking information on information currently available and
do not assume any obligation to update them unless required by
law.
Contacts: Sonde Resources Corp. Suite 3100, 500 - 4th Avenue
S.W. Calgary, Alberta, Canada T2P 2V6 Sonde Resources Corp. Rene
Beaumier Chief Financial Officer (403) 503-7931 (403) 216-2374
(FAX) www.sonderesources.com
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