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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Nitinat Minerals Corp Terminates Its Letter Of Intent With Arax Energy Inc

Wednesday, 15 May 2013 08:30am EDT 

Nitinat Minerals Corp announced that further to the release on May 13, 20123, the Corporation now announced that it has terminated the non-binding letter of intent with Arax Energy Inc. (Arax), an arms' length party to the Corporation.. The Corporation will continue to investigate other means by which it can increase its ownership in Technoton LLC (Technoton). The Corporation will continue to own an 8% ownership interest in Technoton through its wholly owned subsidiary Taman Petroleum Corporation. Technoton, a Russian private company, owns a 100% interest in the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwest Russia. 

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