Regent Ventures Ltd RGVNF

HISTORY

[curtisprod]

HISTORY

 

Regent announces that EuroGas Polska sp. z o.o., a wholly-owned subsidiary of McCallan Oil & Gas (UK) Ltd., together with Poland's National Oil & Gas concern, Polish Oil & Gas (PGNiG) and Aurelian's wholly-owned Polish subsidiary Energia Bieszczady sp. z o.o. executed a final Joint Operation Agreement (JOA) at PGNiG's headquarters in Warsaw, Poland.

Under the terms of the new JOA, PGNiG will be the operator of the JOA holding a 51% working interest. Aurelian owns 25% of the JOA and EuroGas Polska 24%.  Regent has a 45% interest in McCallan with an option to acquire an additional 6%.

As part of the agreement, Aurelian has secured funding of EuroGas Polska's entire 24% Phase I working interest in the JOA (Seismic and the drilling of a 13.000 feet deep well).  In return, EuroGas Polska has transferred a 25% working interest in the JOA to Aurelian and has also given Aurelian a right of first refusal to acquire EuroGas Polska's 24% interest should EuroGas Polska wish to sell its remaining interest.

 -----------------------------------------------------

 EuroGas is in the midst of negotiations with respect to the oil and gas interests held by McCallan and was not able to close its related financing in time to make the payment of $3,000,000 due on March 31, 2010 under the original agreement
------------------------------------------------------------------------------------

AURELIAN IS SOARING.

Wolfgang has failed to meet his obligations to REV time and time again.  REV still owns 51%

Wolftrap is spending  the money he owes us in litigation.
The Polish project appears to be moving in the right direction.

If REV could find another party to JV would our SP soar as per Aurelian.?

[Bendit]

Walter Storm financed Eurogas's (McCallen) obligationa s part of a secured loan to Eurogas.As I see it, cash will flow from this well (and others) to the partners of which we hold 450 shares (45%) of McCallen.McCallen is 55% owned by Eurogas and Wolfgang as CEO has an extention from Regent  on his obligation to pay 2M Eurogas shares (unrestricted) plus $3M in cash and/or shares

[curtisprod]

Yes...Bendit....This was part of the original deal that took us to .99.  Now we stagnate a .099.

[lucky5]

It is foolish to count on history. Look at the world -iy has gone past all historical events and beginning to create new history.So REV will create new history. These are times when all logic will amount to nothing. Because human intelligence appears to have muted.

[JennyB2]

LOL! Les Misearable!"muted"? Don't you mean, "mooted"?I see this tired old working girl is still plying her trade for mere pennies!What did you expect? Honestly?

[kenbull1]

Welcome back Jenny?I think what the dog was saying is that Curt and Mr5 are on the same page. Careful Curt I don't think you want to be licking the dog's you-know-what. What you can take to the bank is that the market reacted the news release with a hoe AND a hum and dropped the SP by .01. That is what the market thinks of it, not the market's re-interpretation, not the market's