Rendato Corp.
Rendato Corp.: Growth in sales through acquisition of Overriding Royalty Interests
Rendato Corp. / Development of Sales 22.02.2010 12:25 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- RENDATO Corp. Growth in sales through acquisition of Overriding Royalty Interests In December 2009 the Rendato Corp. acquired 15% Overriding Royalty Interests on the Rumsey Oilfield in Kentucky, from the Acony Inc., Denver. Overriding Royalty Interests are usage rights - for land or natural resources - which are paid to third parties, independent from the accruing costs. Acony Inc. held a share of 15% of the total revenues of the Rumsey Field's oil & gas production. The achieved revenues of the Acony Inc. were the basis for the settlement of the Overriding Royalties. The acquisition enables Rendato Corp. a yearly increase in turnover of 15% on the proceeds of the entire oil-sales revenue, while the operating costs and the production costs remain unchanged. The Rendato Corp. paid US$ 300,000 for the acquisition, which took place through a liquidity-neutral transfer of 375,000 preferred shares at a price of US$ 0.80 per unit. 22.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden