CASSONA SE
CASSONA SE: CASSONA acquires an additional oil property in Alberta
CASSONA SE / Key word(s): Miscellaneous CASSONA acquires an additional oil property in Alberta CASSONA acquires an additional oil property in the same area of the first P&NG license in Alberta in Canada. The new oil property starts production in August 2014. Frankfurt (14 July 2014) – CASSONA SE (COE) informs the public to acquire an additional oil property in the Red Earth area, Sawn Lake region in the province of Alberta in Canada. The existing initial well on the new property starts production in August 2014. Including the new property the since January 2014 achieved production volume of CASSONA shall more than double. CASSONA is about to finalize the purchase agreement within the next days. The parties have agreed not to disclose the purchase price. “We are happy to be able to speed up our growth perspectives by acquiring additional properties”, states the CEO Dr. Guido Quadri. “This next acquisition shall be undertaken independently from our operational growth on our first property. We nevertheless plan to enter into the second growth phase by drilling the prospected horizontal wells starting in December 2014.” The new property shall have lower royalties payable to third parties and is fully developed with regard to infrastructure. CASSONA is an investment company for targets of the business sectors oil & gas and other natural resources, mining and related infrastructure. CASSONA is a European corporation with domicile in Frankfurt Main. The shares are listed at the regulated market of GXG Markets and they are traded at the Open Market of Frankfurt Stock Exchange FWB and at Berlin Stock Exchange (ISIN DE000A1C6T63).
ir@cassona.de This announcement contains forward-looking statements that are based on current assumptions and forecasts of the management of CASSONA SE. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our company. The company assumes no liability to update these forward-looking statements or to conform them to future events or developments. (c) 2014 CASSONA SE is a European corporation in the legal form societas europaea (SE) with headquarters in Frankfurt am Main, country of origin Germany and first quotation at the Danish stock exchange GXG Markets A/S in the EU regulated market segment GXG Official List. End of Corporate News 14.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | CASSONA SE | |
Schubertstrasse 14 | ||
60325 Frankfurt | ||
Germany | ||
Phone: | 030 6150 82 151 | |
Fax: | 030 6150 82 152 | |
E-mail: | info@cassona.de | |
Internet: | www.cassona.de | |
ISIN: | DE000A1C6T63 | |
WKN: | A1C6T6 | |
Listed: | Freiverkehr in Berlin; Frankfurt in Open Market ; GXG | |
End of News | DGAP News-Service |
277741 14.07.2014 |