Oracle Energy Corp.
Oracle Energy Corp.:N E W S R E L E A S E
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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April 20, 2006 – Oracle Energy Corp. (“Oracle”) (OCL-TSX.V) (O2E-Frankfurt)
announces that it has executed a farm-out agreement with Serpet Consult
S.A. (“Serpet”) acquiring a 15% interest in the Evaluation Agreement to
Promote (EAP) Area XIII, located in the province of Maynas, Peru. As
consideration for acquiring such interest, Oracle has advanced to Serpet a
total of US$175,000, of which US$75,000 was paid as a prospect fee. Under
the terms of the farm-out agreement, Serpet will use the remaining
US$100,000 to undertake a data re-processing work program in respect of
Area XIII. Pursuant to the farm-out agreement, Oracle has agreed to carry
Serpet for up to US$325,000 on any further exploration work undertaken on
Area XIII subject to and following the grant of an exploration license for
Area XIII by Perupetro S.A.
Oracle has now reduced its interest in Area XIII from 30%-15%. This will
allow Oracle to focus resources on its projects in Romania and Yemen as
well as on the potential acquisition of additional oil and gas prospects in
Europe.
ON BEHALF OF THE BOARD
“Nasim Tyab”
Nasim Tyab
President
(c)DGAP 20.04.2006
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language: English
emitter: Oracle Energy Corp.
5525 West Boulevard, Suite 440
V6M 3W6 Vancouver, BC Kanada
phone: +1 604 980-6620
fax: +1 604 602-9974
email: info@oracleenergy.com
WWW: www.oracleenergy.com
ISIN: CA68400T1093
WKN: A0F52J
indexes:
stockmarkets: Freiverkehr in Berlin-Bremen, Stuttgart, München; Open Market
in Frankfurt; Foreign Exchange(s) Canadian Venture Exchange
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