Petrolog Energy Inc.
PETROLOG ENERGY, INC. ISSUES STATEMENT CLARIFYING OWNERSHIP OPL 917 AND NATURAL GAS PROCESSING AGREEMENT
Petrolog Energy Inc. / Key word(s): Miscellaneous PETROLOG ENERGY, INC. ISSUES STATEMENT CLARIFYING OWNERSHIP OPL 917 AND NATURAL GAS PROCESSING AGREEMENT Company TORONTO, CANADA- Petrolog Energy, Inc., (Deutsche Boerse, Frankfurt Exchange, (PT2), an Ontario Province Canada public company announced that prior to listing on the Frankfurt Stock Exchange, it had completed its acquisition of 18% interest in OPL 917 prospect from Petrolog Oil and Gas Limited, (a Nigerian Registered Company) pursuant to a deed of assignment. The investment into OPL 917 is carried as an asset on the balance sheet of Petrolog Energy and has been certified by Felix A. Okai & Associates of Ontario, Canada. Petrolog Energy Inc., also announced that it has entered into a definitive Technical and Commercial Operations agreement with Petrolog Oil and Gas (Nig.) Limited to commercialize the accelerated natural gas development program that Petrolog Oil and Gas had previously entered into with the Nigeria Ministry of Petroleum Resources. Petrolog Energy Inc. Chief Executive Officer, George Ebuh commented, 'We feel it is important for us to explicitly clarify to our shareholders, both the ownership of OPL 917 and nature of the relationship between Petrolog Oil and Gas Nigeria Limited and Petrolog Energy as it pertains to the very large and significant opportunity with the accelerated gas processing agreement.' About Petrolog Energy, Inc. Petrolog Energy is an independent oil and gas exploration and development company with a diverse portfolio of high-quality assets. Petrolog Energy was formed as a unit of Petrolog Group to capitalize on low-risk, high-reward proven and underdeveloped oil and gas fields in Africa. For more information, go to www.petrologenergy.com. About Petrolog Group Petrolog Group, a private company, was established 30 years ago as an oil service company. Over the years Petrolog has expanded its services to include Drilling, Mud Logging and Mud Engineering, Geophysical Exploration, Engineering Design and Project Management. Petrolog is represented in 4 continents with over 12 offices in 6 countries. With a strong and dedicated workforce (650 employees) Petrolog is positioned to respond to client needs globally.
Forward Looking Statements
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