Oracle Energy Corp.
Oracle Energy Corp. Acquires 20% in Fuime Arrone Permit, Italy
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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May 9, 2006- Oracle Energy Corp. (“Oracle”) (OCL-TSX.V)(O2E-Frankfurt)
announced that it has acquired a 20% participating interest in the Fiume
Arrone Exploration Permit in Italy. Oracle is to pay 27% of the cost of the
first exploration well.
The 358 sq km onshore Fiume Arrone Permit, is along the coast to the west
of Rome. It contains the Roma 1 and Roma 2 wells drilled in 1955 the latter
of which was reported to have had shows of gas. The first well, planned to
be 950m deep, will target a gas prospect identified from seismic. Oracle
President Nasim Tyab says “this new acquisition is another step forward in
the Company’s plan of building a strong portfolio of international
exploration and development projects.”
The other partners with an interest in the Permit are Ascent Resources plc
(40%), Italmin Exploration (30%) and JKX Oil and Gas plc. (10%) Ascent
Resources plc. is the operator and has scheduled the drilling of the first
well for October 2006. A finder’s fee is to be paid on this transaction.
ON BEHALF OF THE BOARD
“Nasim Tyab”
Nasim Tyab
President
Contact Germany
Value Relations GmbH
Mail: oracle@ir-services.de
Tel.: 069/959246-13
(c)DGAP 09.05.2006
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Language: English
Issuer: 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
indices:
Listed: Freiverkehr in Berlin-Bremen, Stuttgart, München; Open Market
in Frankfurt; Foreign Exchange(s) Canadian Venture Exchange
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