Completion of Sale of Irish Assets Further to its announcement on 26 September 2013, the Company has completed the sale of Island Oil & Gas Limited (“Island Oil & Gasâ€) to Ardilaun Energy Limited (“Ardilaunâ€). Under the finalised terms of the transaction, Ardilaun has agreed to pay San Leon US$3 million in consideration for Island Oil & Gas. San Leon has already received US$1 million and the balance of US$2 million is now payable within 36 months. Ardilaun will issue San Leon shares equivalent to 15 per cent. of its enlarged issued share capital. San Leon will maintain a joint operating contractor status in the Island Oil & Gas licences. As previously announced, San Leon has retained its Net Profit Interest (NPI) in the Barryroe licence, located in the North Celtic Sea, offshore Ireland. A number of parties have expressed an interest in a financial transaction on the NPI, subject to the completion of a farm-out by the Operator of Barryroe, Providence Resources plc. San Leon is evaluating these expressions of interests. [link]
I'm still here markie225. I wish I had more news. I would gladly share. but I am confident we will get a good result from pvr eventually.
Glad my find on sequa looks legit. not easy watching the sp fall everyday. goodluck all. talk about bad timing. fingers still crossed for good xmas news.
found this link and not sure what it means but it is for a company extracting oil and gas in barrroe. [link]
