Groups

Private Group  active 10 days ago
Bow Energy Ltd, A leader in Indonesian Oil and Gas Exploration and Development. Indonesia is a significant and well-established player in the international oil and gas industry. Welcome to our Investor Group!
Request Membership

Group Admins

  • 8020 monitor 200 200  png
  • Mo headshot smaller yet

Group Mods

  • 8020 media relations
8020 monitor 200 200  png
8020Admin started the topic ONG News Alert: Signs Definitive Agreement 10 days ago

Bow Energy Signs Definitive Agreement with Petrolia Energy

 

Not for distribution in the United States or through United States wire services

Calgary, Alberta (FSCwire) - Further to Bow Energy Ltd.’s (“Bow or the Company”) (ONG:TSXV) press releases dated October 25, 2017 October 26, 2017  Bow is pleased to announce that the Company and Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) have signed a definitive agreement for Petrolia to acquire Bow.

 

The Agreement sets out the terms and conditions pursuant to which Petrolia will acquire through an all-stock transaction the entire issued and outstanding common shares of Bow.  Bow will distribute the common shares of Petrolia it receives to Bow shareholders who will receive shares of Petrolia on the basis of 1.15 Petrolia shares for each common share held in Bow.  Bow warrant holders will be entitled to receive, upon exchange of their securities, the equivalent number of Petrolia warrants.

 

Following the completion of the Arrangement, Bow will be a wholly owned subsidiary of Petrolia.

 

Bow will issue an information circular and hold a shareholder meeting to approve the transaction.

 

Upon completion of the transaction, Bow will be delisted from the TSXV.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy12072017.pdf

Source: Bow Energy Ltd. (TSX Venture:ONG)

 







8020 media relations
8020 Media Relations started the topic ONG News Alert: Definitive Arrangement Agreement Executed for Petrolia Energy's Acquisition of Bow Energy 12 days ago

Definitive Arrangement Agreement Executed for Petrolia Energy's Acquisition of Bow Energy

HOUSTON, TX--(Marketwired - December 05, 2017) - Further to the press release dated October 26, 2017, Petrolia Energy Corporation (OTCQB: BBLS) ("Petrolia" or the "Company") is pleased to announce it has executed a Definitive Binding Arrangement Agreement (the "Agreement") with Bow Energy Ltd. ("Bow") (TSX VENTURE: ONG). Bow Energy Ltd. is a Canadian based oil and natural gas company trading on the TSX Venture Exchange holding over 948,000 net acres onshore North Sumatra, Indonesia which is one of the world's most prolific oil and gas basins. Bow's acreage consists of interests in five production-sharing contracts (PSCs) and one Joint Study Agreement (JSA) with the Indonesian government. The assets are close to existing infrastructure and the city of Medan which is the largest city in North Sumatra.

The Agreement sets out the terms and conditions pursuant to which Petrolia will acquire through an all-stock transaction the entire issued and outstanding common shares of Bow. Bow will distribute the common shares of Petrolia it receives to Bow shareholders on the basis of 1.15 Petrolia shares for each common share held in Bow. Bow warrant holders will be entitled to receive, upon exchange of their securities, the equivalent number of Petrolia warrants. Following the completion of the Arrangement, Bow will be a wholly owned subsidiary of Petrolia.

James Burns, President of Petrolia, commented:

"We are delighted to have concluded this agreement with Bow which has a portfolio of high quality strategically located natural gas projects in North Sumatra. We believe the value of Bow's projects has not been fully recognized by the TSX-V market and is a significant growth opportunity for Petrolia."

The Arrangement will be implemented by way of a Plan of Arrangement under the Business Corporations Act (British Columbia) and is subject to a number of potential conditions.

More information about Petrolia is available at www.petroliaenergy.com

Forward-looking Statements

Certain information in this press release constitutes forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements regarding well production, use of proceeds, future drilling, operating expenses, and additional funding. Any statement that does not contain a historical fact may be deemed to be a forward-looking statement. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology, although not all forward-looking statements contain such identifying words.

Forward-looking statements are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the Company's control, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks, and uncertainties include, among others, those associated with exploration activities, oil and gas production, marketing and transportation, costs of operations, loss of markets, volatility of oil and gas prices, reserve and future production estimates, environmental risks, competition, inability to access sufficient capital from internal and external sources, general economic conditions, litigation, and changes in regulation and legislation. Readers are cautioned that the foregoing list is not exhaustive.

Additional information on these and other factors that could affect Petrolia's operations or financial results is available by contacting Petrolia. The forward-looking statements contained in this press release are made as of the date of this press release, and Petrolia does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by applicable law.

Petrolia Energy Corporation (OTCQB: BBLS) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

For more Information contact:
Investor Relations Contact:
IR@PetroliaEnergy.com 
www.PetroliaEnergy.com

News Provided by Marketwired via QuoteMedia





57d34f5b90084 bpfull
Darren Stewart started the topic $ONG News Alert: Bow Energy Ltd. Receives Acquisition Offer from Petrolia Energy Corporation 2 months ago

Correcting and Replacing: Bow Energy Ltd. Receives Acquisition Offer from Petrolia Energy Corporation

 Not for distribution in the United States or through United States wire services.

 

Calgary, Alberta (FSCwire) - This press release replaces the press release disseminated October 25, 2017 at 4:38 PM ET. The press release contained incorrect information in the second paragraph. The corrected press release is below:

 

On October 25, 2017 Bow Energy Ltd. (“Bow or the Company”) (ONG:TSXV) issued a press release announcing that it has received a non-binding proposal from Petrolia Energy Corporation (“Petrolia”) (BBLS:OTCBB) for the acquisition of the outstanding shares of Bow.  Petrolia has offered to acquire 100% of the shares of Bow outstanding by issuing shares of Petrolia in exchange for the Bow.  Bow shareholders will receive 1.15 shares of Petrolia for each Bow share held.    

 

Bow and Petrolia have signed a non-binding Letter of Intent which is subject to various conditions including completion of due diligence and board of director approval.  Upon completion of due diligence, the parties will move to sign a formal binding agreement subject to customary shareholder and stock exchange approvals as may be required.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Bow Energy Ltd.

Mohammad Fazil, President and CEO

Telephone: +1 (403) 613-7310

 

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bow. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release are made as of the date of this press release, and Bow does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/BowEnergy10272017_0.pdf

Source: Bow Energy Ltd. (TSX Venture:ONG)