Entek Energy Ltd. has got into an agreement with Elixir Petroleum Ltd. The reason behind this is to acquire the Elixir's three wholly owned leases onshore of Alaska North Slope.
Entek is further planning to issue Elixir around 200 million convertible preference shares of Entek. Once the actual expenditure id locked, the final calculation will be put forward.
Additionally, an evaluation, exploration of current leases and further new leases would also be taken into account. The convertible shares of Entek are valued at around 1.5¢ (Aus.)/share.
Furthermore, Entek has agreed to pay Elixir a non-refundable amount of $50,000 (Aus.) for a grant of the option.
This will serve as a security when Entek withdraws after 30 days while failing to exercise the option by the end of January next year.
A break fee of $50,000 will be applied.
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Additionally, an evaluation, exploration of current leases and further new leases would also be taken into account. The convertible shares of Entek are valued at around 1.5¢ (Aus.)/share.
Furthermore, Entek has agreed to pay Elixir a non-refundable amount of $50,000 (Aus.) for a grant of the option.
This will serve as a security when Entek withdraws after 30 days while failing to exercise the option by the end of January next year.
A break fee of $50,000 will be applied.
Elixir Petroleum Ltd Key Recent Developments
- Jun 05,2018: Elixir Petroleum Provides Mongolian Update
- Mar 13,2018: Elixir Petroleum Announces Interim Financial Report For Half-Year Ended 31 December 2017
- Aug 15,2017: Elixir Petroleum Provides Drilling Update - Petra Project
- Aug 14,2017: Elixir Petroleum Provides Drilling Update - Petra Project
- Aug 07,2017: Elixir Petroleum Announces Drilling Commenced At Petra Project.
This comprehensive SWOT profile of Elixir Petroleum Ltd provides you an in-depth strategic analysis of the company's businesses and operations.
The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers, and competitors better.
Entek Energy Ltd Key Recent Developments
- Sep 01,2018: EntekEnergyAnnounces board changes
- Jul 31,2018: Entek provides quarterly activities report
- Mar 16,2018: Entek Energy Announces Consolidated Financial Report For Half-Year To 31 December 2017
- Mar 07,2018: Entek Announces Changes In Management
- Nov 24,2017: Entek Energy's director steps down
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Opportunities that the company can explore and exploit are sized up and its growth potential assessed in the profile. Competitive and/or technological threats are highlighted.
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