Attis Oil and Gas Ltd Extension of Memorandum of Understanding (6498S)
November 07 2019 - 5:34AM
UK Regulatory
TIDMAOGL
RNS Number : 6498S
Attis Oil and Gas Ltd
07 November 2019
Attis Oil & Gas Ltd / Index: AIM / Epic: AOGL/ ISIN:
VGG6622A1057 / Sector: Oil and Gas
7 November 2019
Attis Oil & Gas Ltd ('the Company')
Extension of Memorandum of Understanding
Attis Oil and Gas Ltd (AIM: AOGL), the AIM listed oil and gas
company, announces that, further to the Memorandum of Understanding
("MOU") announced on 22 October 2019, it has agreed to extend the
MOU previously disclosed with an owner and operator of approx.
25,000 leasehold acres in the Texas Panhandle to 1 December 2019.
The MOU allows the Company to conduct due diligence over the
acreage, determine feasibility, and, if satisfactory, enter into
good faith negotiations on structure, and mutually acceptable terms
for a transaction, further expanding their joint position in the
Red Cave formation.
The Company plans to use its tax efficient corporate structure
in the United States and its Red Cave acreage as a platform to
build a strategic position through joint ventures with local
mineral and working interest owners, operators, and contractors in
order to achieve scale in the Red Cave formation in order to
provide positive cash flow in the near term.
**ENDS**
For further information visit www.attisog.com or contact the
following:
Thom Board Attis Oil & Gas Ltd +44 207236 1177
Paolo Amoruso Attis Oil & Gas Ltd + 1 713 869 1544
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Roland Cornish Beaumont Cornish Ltd +44 20 7628 3396
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James Biddle Beaumont Cornish Ltd +44 20 7628 3396
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Frank Buhagiar St Brides Partners Limited +44 20 7236 1177
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Megan Dennison St Brides Partners Limited +44 20 7236 1177
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Colin Rowbury Novum Securities Limited +44 20 7399 9400
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About Us
Attis Oil & Gas Ltd is an AIM-traded (London Stock Exchange)
North American-based energy company. It is actively pursuing a
primary recovery oil strategy focused on re-stimulating wells
within mature producing basins with immediate cash flow from
projects that are shallow, low risk with low levels of capex and
infrastructure already in place. Attis is also seeking to develop
new drill opportunities within both existing & new acreage.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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