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Longford Energy Inc V.LFD

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TSXV:LFD - Post by User

Longford Energy Inc
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Post by Bpultraon Aug 23, 2012 10:26pm
254 Views
Post# 20255029

Looks like the boys just keep moving around

Looks like the boys just keep moving around

 

Company News Alert for Groundstar Resources
 
Groundstar Resources Limited Announces Extension to Petroleum Prospecting Licence in Guyana
  
 

CALGARY, ALBERTA--(Marketwire - Aug. 23, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited (TSX VENTURE:GSA) announces that the joint venture partners have been granted a three year extension for the Takutu Petroleum Prospecting Licence ("PPL") by Guyana Geology and Mines Commission ("GGMC") ending May 21, 2015. The work commitment for the first phase of a two phase agreement is drilling of an exploration well by May 2014, in the Takutu Basin with a financial commitment of USD 7.0 million. The work program for the second phase will be developed by GGMC and the joint venture partners jointly. Groundstar, the operator, has a 10% working interest that is carried by Canacol to first commercial production Effective September 1, 2012 the operatorship will be transferred to Canacol.

About Groundstar Resources Limited

 

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