Petroglobe Inc. PTGBF

merger

[wallywill]

PetroGlobe Inc. Announces Executed Letter of Intent Regarding Business Combination

CALGARY, ALBERTA, May 5, 2010 (Marketwire via COMTEX News Network) --

PetroGlobe Inc. ("PetroGlobe" or the "Corporation") (TSX VENTURE:PGB) is pleased to announce that it has entered into a letter of intent dated as of May 4, 2010 which contemplates a business combination with ArPetrol Inc., a private Alberta corporation with international oil and gas operations. The potential transaction is subject to a number of conditions precedent, including completion of satisfactory due diligence, receipt of all required corporate and regulatory approvals, and negotiation and execution of typical transaction documents, and accordingly there can be no assurance that the transaction will be completed. It is anticipated that trading in the common shares of the Corporation will remain halted pending the dissemination of a comprehensive news release and satisfaction of all applicable requirements of the TSX Venture Exchange. Further details of the proposed transaction will be released as they become available.

GLTA
Wallywill

[wallywill]

Here is their web site. Interesting development. https://www.arpetrol.com/en/home.php

[smithgee]

wow, didn't see this coming, but the trading of late suggested something was up.

[shotski]

Thanks For posting the link to there web site. Looks like maybe the private company wants Petrogolbe for its assets and mayeb its ticker as well.Welcome to ArPetrolArPetrol Inc. is a privately owned, independent Canadian exploration and production company focusing on Latin America. The company is led by an experienced team of proven petroleum finders possessing an enviable track record in sourcing