Post by
Kamooz on Mar 09, 2015 9:27am
MENA Hydrocarbons Provides Corporate Update
<div class="mw_release" style="border: 0px; padding: 0px; margin: 0px; color: rgb(50, 58, 66); line-height: 18px; font-family: Arial, Helvetica, Verdana, Geneva, sans-serif;" xmlns="https://www.w3.org/1999/xhtml"> <p style="line-height: 1.5; margin: 12px 0px; font-size: 13px !important;"> <strong>CALGARY, ALBERTA--(Marketwired - March 9, 2015) -</strong> MENA Hydrocarbons Inc. ("<strong>MENA</strong>" or the "<strong>Company</strong>") (TSX VENTURE:MNH) is pleased to announce the successful closing of the sale of its Lagia Project in Egypt to SacOil Holdings Limited of South Africa in the amount of $14,000,000 cash and stock as outlined in the press release dated October 14, 2014.</p> <p style="line-height: 1.5; margin: 12px 0px; font-size: 13px !important;"> Moving forward, the Company has been evaluating numerous critical scale production and development opportunities and is currently in discussions with various parties. </p> <p style="line-height: 1.5; margin: 12px 0px; font-size: 13px !important;"> Mena will provide further updates as they arise. </p> <p style="line-height: 1.5; margin: 12px 0px; vertical-align: baseline; font-size: 13px !important;"> <em><strong>Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.</strong></em></p> <p style="line-height: 1.5; margin: 12px 0px; font-size: 13px !important;"> <em>Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, the ability of the Company to complete the Arrangement and to satisfy the conditions precedent thereto, the uncertainty of the value of the non-cash consideration anticipated to be received and the ability of the Company to satisfy its liabilities, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company does not undertake to update any forward-looking statements except as required by law.</em></p> </div> <div class="mw_contactinfo" style="border: 0px; padding: 0px; margin: 0px; color: rgb(50, 58, 66); line-height: 18px; font-family: Arial, Helvetica, Verdana, Geneva, sans-serif;" xmlns="https://www.w3.org/1999/xhtml"> <p style="line-height: 1.5; margin: 12px 0px; font-size: 13px !important;"> MENA Hydrocarbons Inc.<br /> Magdy Bassaly<br /> President and Chief Executive Officer<br /> +1(714) 713-6534 or Cell 2 01 222 101582<br /> m.yousef@menahc.com<br /> www.menahydrocarbons.com<br /> <br /> MENA Hydrocarbons Inc.<br /> 5 Hassan Hafez Street<br /> Saraia Elqoba, Cairo Egypt</p> </div> <div class="mw_tracker" style="border: 0px; padding: 0px; margin: 0px; color: rgb(50, 58, 66); line-height: 18px; font-family: Arial, Helvetica, Verdana, Geneva, sans-serif;" xmlns="https://www.w3.org/1999/xhtml"> <img src="https://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0995832001&sourceType=1" style="border: 0px; padding: 0px; margin: 0px;" /></div>