CALGARY, Nov. 29, 2013 /CNW/ - Stream Oil & Gas Ltd. (TSXV: SKO) ("Stream" or the "Company") is pleased to announce the signing of the foreign investment promotion and protection agreement ("FIPA") between Canada and Albania. FIPA is a treaty designed to promote and protect Canadian investment abroad, providing investors the confidence to support further development in Albania.
Canada's Honourable Ed Fast, Minister of International Trade, announced that the negotiations had been finalized on a FIPA between Canada and Albania at Albania's Independence Day reception in Ottawa on November 27, 2013. More information can be located on the Canadian government's website (www.international.gc.ca/media/comm/news-communiques/2013/11/27b.aspx?lang).
"Minister Fast's announcement supports our belief that Albania is a desirable business environment," said Dr. Kapotas, President and Chief Executive Officer. "This agreement is very encouraging as it validates our continuing confidence in Albania's stability and legitimacy under the newly elected government. We are pleased to continue our operations in Albania, contributing to the country's development."
About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oilfields and a gas/condensate field in Albania. The Company's strategy is to use proven technology, incremental and enhanced oil recovery techniques to significantly increase production and reserves.
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SOURCE: Stream Oil & Gas Ltd.
For further information:
Dr. Sotirios Kapotas President & Chief Executive Officer P: (403) 531-2358
Susan J. Soprovich, Interim Corporate Secretary P: (403) 874-2903
Email [email protected]