TSXV:LFD - Post Discussion
Post by
Bpultra on Aug 23, 2012 10:26pm
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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