This announcement was posted on the 10th/01. What a load of ______.In my view this is total deception. They led us on till the end.
10 January 2011 Mr Mauro Paccini ASX Limited 2 The Esplanade PERTH WA 6000
MONITOR "EXECUTES" TWO KEY AGREEMENTS AS PART OF ACQUISITION OF TRINIDAD OIL PRODUCTION ASSETS
Key points: - Monitor Energy Limited has executed two key agreements as part of its proposed acquisition of up to a 90% interest in SOCA Petroleum Limited, a company which holds oil production licences in Trinidad and a major local drilling company (?Transaction?), - These agreements include: o A formal Share Purchase Agreement to acquire SOCA Petroleum Limited and the drilling company, o A mandate with major UK based broker Renaissance Capital to raise up to AUD$90 million, and - Notice of Meeting for Extraordinary General Meeting seeking approval for the Transaction, the capital raising and other associated resolutions is being finalised and expected to be dispatched to shareholders shortly.
MHL Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
