Claren to Acquire Remaining 60% Interest in the Bobocu Gas Field
17 Juni 2019 - 8:04PM
Claren Energy Corp. (“Claren” or the “Company”) (TSX-V: CEN) is
pleased to announce that its wholly owned subsidiary, Claren
Operations Ltd., has entered into an agreement with Zeta Petroleum
(Romania) S.R.L., to acquire the remaining sixty percent (60%)
participating interest in the Bobocu Production License, onshore
Romania, (“Bobocu”) . Upon closing of the acquisition, Claren
Operations will hold a one hundred percent (100%) interest in the
Bobocu Production License.
Closing of the agreement is subject to a number
of customary conditions precedent including, but not limited to,
approval of the National Agency for Mineral Resources (“NAMR”).
About Claren Energy Corp.
Claren Energy Corp. is an oil and gas company
that has a (40%) participating interest in the Bobocu License,
onshore Romania. Its common shares trade on the TSX Venture
Exchange under the symbol "CEN".
For more information please contact:Claren Energy Corp.Mark
LawsonT: +1 647 302 0393Email: mark@clarenenergy.com
Investor Relations Email: info@clarenenergy.com
www.clarenenergy.com
This news release contains forward-looking
information relating to statements that are not historical facts.
Such forward-looking information is subject to important risks and
uncertainties that could cause actual results to differ materially
from what is currently expected, for example: risks related to oil
and gas exploration, development, exploitation, production,
marketing and transportation, loss of markets, volatility of
commodity prices, currency fluctuations, competition from other
producers, inability to retain drilling rigs and other services,
reliance on key personnel, and insurance risks.. Findings by
other oil and gas issuers does not necessarily indicate that Claren
will be successful in making such findings in Romania. In making
such forward- looking statements, Claren has relied upon certain
assumptions relating to geological settings, commodity prices, the
stability of markets and currencies and the availability of capital
to Claren in order to continue with the seismic and drilling
programs. You should not place undue importance on forward-looking
information and should not rely upon this information as of any
other date. While Claren may elect to, Claren is under no
obligation and does not undertake to update this information at any
particular time, except as required by applicable securities
law. 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.
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