Key Developments: Petrox Resources Corp (PTC.V)

PTC.V on TSX Venture Exchange

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18 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Petrox Resources announces extension of LOI for proposed acquisition of corporat
Tuesday, 14 Oct 2014 03:05pm EDT 

Petrox Resources Corp:Says further to its news release of Sept. 3 in which Petrox announced assignment of conditional, non-binding letter of intent on involving business combination with private entity from China, target date for entering into a definitive agreement for the Transaction has been amended to Nov. 30.  Full Article

Petrox Resources Corp signs agreement on a proposed LNG project
Thursday, 19 Jun 2014 09:00am EDT 

Petrox Resources Corp:Entered into a co-operation framework agreement with Qingdao Sinoenergy Corporation of China and Asiafic Clean Energy Ltd of Hong Kong to establish an Alberta joint venture company, Gascana AB Energy Ltd.It is with the objective of which will be the construction of a LNG liquefaction plant in Alberta with a daily production capacity of 2,950 tonnes (150 MMCF).Asiafic is a wholly owned subsidiary of Qingdao Sinoenergy.  Full Article

Petrox Resources Corp completes acquisition of producing properties
Monday, 2 Jun 2014 04:30pm EDT 

Petrox Resources Corp:Completes acquisition of certain oil and gas properties located in the Fletwode area of Saskatchewan for $2,100.000.  Full Article

Petrox Resources announces acquisition of producing properties
Wednesday, 21 May 2014 04:30pm EDT 

Petrox Resources Corp:Entered into a definitive sale and purchase agreement for the acquisition of certain oil and gas properties located in the Fletwode area of Saskatchewan.Properties include six oil producing wells with a combined producing rate of about 40 barrels per day.  Full Article

Petrox Resources Corp announces proposed acquisition of producing properties
Wednesday, 26 Mar 2014 08:20am EDT 

Petrox Resources Corp:Enters into a preliminary agreement for the proposed acquisition of certain oil and gas properties located in Saskatchewan.Target closing date for the proposed acquisition is May 31.Financial terms of the transaction were not disclosed.  Full Article

Petrox Resources Corp Closes Private Placement
Tuesday, 22 Oct 2013 06:26pm EDT 

Petrox Resources Corp announced it has closed its previously announced non-brokered private placement (the Offering) and has issued 36,500,000 units in the capital of Petrox for gross proceeds of $3,306,295. Each unit consists of one common share in the capital of Petrox (Common Share) and one warrant (Warrant), with 50% of the Warrants entitling the holder thereof to purchase one additional Common Share for a period of 12 months at an exercise price of $0.20, and the remaining 50% of the Warrants entitling the holder thereof to purchase one additional Common Share for the following 12 months at an exercise price of $0.25. A total of 2,129,446 of the units consist of Warrants and Common Shares issued on a tax flow-through basis and 34,370,554 of the units consist of Warrants and Common Shares issued on a non tax flow-through basis. Proceeds of the Offering will be used to fund the exploitation and development plans for Petrox's P&NG properties in Central Alberta. Specifically, Petrox intends to use the funds to drill a Viking vertical core hole test and up to two Viking horizontal wells, as well as for general corporate purposes. Finders' fees totaling $9,920 have been paid in relation to the Offering. In addition, broker warrants were issued to two finders entitling them to purchase, in aggregate, 107,555 Common Shares at an exercise price of $0.10 per Common Share for a period of two years from the date of closing of the Offering.  Full Article

Petrox Resources Corp Announces Acquisition Of Additional Land In Halkirk Area
Monday, 11 Mar 2013 09:00am EDT 

Petrox Resources Corp announced that the acquisition of additional 16 sections of 100% working interest in Petroleum and Natural Gas Leases located in the Halkirk area of Central Alberta (Townships 43, 44, 45 and Ranges 15, 16, 17 West 4M). The additional leases are comprised of 16 sections acquired at the March 6, 2013 Crown land sale. With the acquisition of the additional 16 sections announced herein, Petrox has now assembled 32.625 sections of 100% working interest lands in the emerging Viking light oil fairway in the Halkirk and Battle areas of Central Alberta. The Corporation will now focus its efforts in the development of its properties in this Viking oil fairway.  Full Article

Petrox Resources Corp Announces Withdrawal of Private Placement
Thursday, 7 Feb 2013 04:30pm EST 

Petrox Resources Corp announced that it will not proceed with the private placement with Pearl Oriental Oil Limited previously announced on January 2, 2013. Petrox continues to investigate other financing opportunities.  Full Article

Petrox Resources Corp Announces Proposed Unit Private Placement
Wednesday, 2 Jan 2013 12:42pm EST 

Petrox Resources Corp announced that it has entered into a letter of intent effective December 28, 2012 proposing to sell to Pearl Oriental Oil Limited up to 43,750,000 units of Petrox, at a price of $0.16 per Unit, for gross proceeds of up to $7,000,000. Each Unit will consist of one common share in the capital of Petrox (Common Share) and one non-transferable share purchase warrant (Warrant). Each Warrant will entitle the purchaser to acquire an additional Common Share at an exercise price of $0.20 per share for a period of two years from the date of closing. Proceeds of the Proposed Transaction will be used to fund the exploitation and development plans for Petrox's P&NG properties in Central Alberta, specifically, Petrox intends to use the funds to drill three or four wells on its properties and, subject to due diligence, to acquire a small producing property and additional land holdings, as well as for general corporate purposes. It is expected that a Definitive Agreement for the Proposed Transaction may be signed between Petrox and Pearl in January 2013, and the Proposed Transaction may be completed on or before 15th of March 2013.  Full Article

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