3P International Takes Helm of Galizien Energy

3P International Energy, formerly, Colonnade Capital announced that, pursuant to the terms of a share purchase agreement executed, the Corporation will be issuing 4,400,000 common shares as consideration for the acquisition of all of the issued and outstanding shares of Galizien.

The transaction qualifies as an "Expedited Acquisition" under the policies of the TSX Venture Exchange and remains subject to regulatory approval.

Richard Kehmeier, the President and Chief Executive Officer of the Corporation, stated, "The acquisition of Galizien delivers a project to 3P which satisfies all of the key elements of our business model. We believe that significant shareholder value may be created through accelerated, but calculated, phased development in the short term; and a more aggressive posture once the company's commercial concept is proven.

"Galizien's Ukrainian CBM concessions overlay a defined reservoir which we believe can be efficiently exploited and we are looking forward to beginning work alongside our partners on the rehabilitation of some of the 2,000 formerly producing wells, adding new drilling, and moving towards production."


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
General Manager US
Expertise: Business Development|Executive|Technical Manager
Location: Houston, TX
Division Order Analyst - DJ Land Administration
Expertise: Business Analyst|Commercial Management|Landman
Location: Denver, CO
search for more jobs

Brent Crude Oil : $59.02/BBL 3.79%
Light Crude Oil : $52.22/BBL 3.07%
Natural Gas : $2.92/MMBtu 1.31%
Updated in last 24 hours