Perisson Signs Global Farm-in Agreement with CNOG
Calgary, Alberta (FSCwire) - Perisson Petroleum Corporation (“Perisson” or the “Company”) (TSXV: POG) is pleased to announce that on June 12, 2018, it signed a Farm-In Agreement with Oil & Gas Engineering Co Ltd of CNNC Geo-Mining Shaanxi (“CNOG”).
Through this Farm-in Agreement with CNOG, Perisson continues to expand its growth plan and corporate value chain to become an integrated global oil and gas company. Under the Farm-in Agreement, CNOG can elect to participate in the Farm-in Programs provided by Perisson whereby CNOG would provide the funding and potential access to equipment, technical and logistical capabilities to assist in the development of the farm-in opportunities.
The Company continues to look for suitable oil and gas acquisitions, including farm-out candidates, and associated infrastructure, to leverage the Company’s access to drilling capital, equipment and expertise. We look forward to developing partnerships with oil and gas companies with asset rich prospects that require significant funding to fully exploit.
Perisson is a worldwide partner with CNOG for the acquisition of petroleum assets and petroleum product delivery into China. Recently, Perisson announced that it had signed a memorandum of understanding to acquire a significant interest in the Xinquan Refinery and tank storage in China. Due diligence is underway for the refinery acquisition.
About Perisson Petroleum Corporation
The Corporation has ownership in certain oil and gas producing properties in the Twining area of Alberta, Canada. The Company also holds a 100% working interest in the VMM-17 block, a license located in the prolific, stable, oil-producing region of the Middle Magdalena Basin in central Colombia.
Perisson Petroleum Corporation is listed on the TSX Venture Exchange and trades under the symbol "POG".
FOR FURTHER INFORMATION, PLEASE CONTACT:
Wayne Rousch, President
Direct Line: (403) 827-8597
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements relating to the timing and completion of the future operations of Perisson and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the proposed Acquisition and the future plans and objectives of Perisson, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Perisson's expectations are risks detailed from time to time in the filings made by Vela with securities regulations.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Trading in the securities of Perisson Petroleum Corporation should be considered highly speculative. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Perisson Petroleum Corporation (TSX Venture:POG)
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