ST. HELIER, JERSEY, July 21, 2015 /CNW/ - EastSiberian Plc (TSXV NEX: ESB.H) ("EastSiberian" or the "Corporation"), a Jersey company, today provided an update on its ongoing negotiations to pursue oil and gas opportunities in Latin America. Further to the Corporation's news release of March 19, 2015, EastSiberian has submitted its request to the Nicaraguan Ministry of Energy and Mines for approval as a qualified exploration and exploitation contractor in Nicaragua and is currently waiting on a response. In addition, and as a result of a review of additional opportunities available to EastSiberian in Latin America, the Corporation has expanded negotiations to include a broader mandate. This mandate is preliminary in nature and involves consideration of options including securing a strategic partner as well as other potential value-maximizing transactions, which transactions may involve the acquisition of additional oil and gas interests in Latin America.
There can be no assurances that the Corporation will acquire any oil and gas interests in Latin America, complete a business transaction under its strategic process or that any transaction will provide any value to all or any shareholders.
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.
EastSiberian is an international junior oil exploration company incorporated in the Bailiwick of Jersey. For further information, please visit the EastSiberian Plc website at www.eastsiberianplc.com. The common shares of the Corporation are currently listed on the NEX.
As previously announced, the common shares of EastSiberian are currently halted from trading on the NEX at the request of the Corporation. The common shares will remain halted until the Corporation makes an announcement in respect of a transaction or otherwise in accordance with the policies of the TSX Venture Exchange.
Advisory Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively referred to as "forward looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking information typically contains statements with words such as "anticipate", "believe", "plan", "continuous", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes references to plans to acquire oil and gas interests in Latin America and conduct a strategic review process.
Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized and in particular, that EastSiberian will successfully acquire any oil and gas interests in Latin America or complete a transaction under its strategic process or that any transaction will provide any value to all or any shareholders. Actual results will differ, and the difference may be material and adverse to EastSiberian and its shareholders.
The forward-looking statements contained in this press release are made as of the date hereof and EastSiberian does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
SOURCE EastSiberian Plc
For further information: EastSiberian Plc, Graeme Phipps, President, 9 Esplanade, St. Helier, Jersey, Tel: +44 7733 363 016 or +1 403 630 2367, Email: [email protected]