Suroco Energy Inc. Provides Operational Update on Its Operations and the Operations of Winchester
Suroco Energy Inc. (TSX VENTURE:SRN) provided an update to its operations and the operations of Winchester Oil & Gas S.A.
Suroco Energy Inc. (TSX VENTURE:SRN) provided an update to its operations and the operations of Winchester Oil & Gas S.A.
The press release is quoted as saying:
On April 20, 2010, the Corporation entered into a binding letter of intent with Winchester setting out the initial terms and conditions of an arm’s length merger between the Corporation and Winchester (the “Proposed Transaction”). Winchester is an oil and gas company incorporated in Panama and which has been active in Colombia since 2002. Please refer to the Corporation’s press releases of April 22, 2010, April 30, 2010, May 4, 2010 and May 21, 2010 for more information about the Proposed Transaction. The Proposed Transaction will constitute a reverse take-over and a change of control of the Corporation within the meaning of Policy 5.2 of the TSX Venture Exchange.