ST. HELIER, JERSEY, May 27, 2011 /CNW/ - PetroKamchatka Plc,
("PetroKamchatka" or the "Corporation"), an international junior oil
exploration company incorporated in the Bailiwick of Jersey, is pleased
to announce that trading of its common shares is to resume on May 27,
Trading was halted on May 18, 2011 at the request of the TSX Venture
Exchange (the "TSX-V") to allow the dissemination of a news release
announcing that the Corporation had signed a non-binding Letter of
Intent ("LOI") with Mr. Sergey Dokuchaev and Mr. Valery Garipov in respect of a proposed
share exchange transaction. The trading halt also allowed the TSX-V to
review preliminary personal information regarding Mr. Dokuchaev and Mr.
Garipov as potential new insiders of the Corporation. PetroKamchatka is
proceeding with due diligence and structuring discussions, and hopes to
have definitive documents executed in late June.
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.
SOURCE PetroKamchatka Plc
For further information:
| PetroKamchatka Plc |
President and Chief Executive Officer
St. Helier, Jersey,
Tel: +44 7733 363 016 or +1 403 630 2367
| Adam Landes |
Balearic Islands, Spain
Tel: +34 699 530 180 or +44 7767 312 800
| Calvin Brackman |
Vice President, Corporate Planning
c/o 1000, 505 - 3rd Street S.W.
Calgary, Alberta, Canada
Tel: +1 403 984 5132
Cell: +1 403 690 6230
For further information in respect of the Corporation, please visit the PetroKamchatka Plc website at www.petrokamchatka.com