The result of this will hopefully will be announced soon !
European Gas Limited (“European Gas” or “Company”) is pleased to announce that it has entered into a Heads of Agreement (“Agreement”) with Verdesis S.A, a subsidiary of EDF Energies Nouvelles S.A., a market leader in renewable energies, for the potential development of electricity projects within the Company’s 100% owned Gazonor Project in northern France.
The Agreement is preliminary in nature and covers the exclusivity for the Company and Verdesis (jointly “the Parties”) to seek a commercial arrangement for electricity developments at Gazonor. The exclusivity period extends to 30th November 2009 and includes the sites comprising the current coal mine methane production operations at Avion, Divion and Désirée.
EPG Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
