Rift Basin Receives State Approval for Chorbane Acquisition


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Rift Basin Resources Corp. (RIF.V) today announced that further to its recent news release announcing a definitive farmin agreement for the Chorbane exploration permit, the company has received approval from ETAP for the acquisition.

ETAP is the Tunisian state-owned entity responsible for the petroleum sector as well as the state's partnerships with foreign exploration and production operators.

The TSX Venture Exchange halted the company's common shares prior to the dissemination of the December 21 news release in accordance with TSX-V policy.

Due to delays associated with the holidays, the company expects that TSX-V's review of the definitive farmin agreement will be completed and that the stock halt will be lifted in the week of January 7, 2013.

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This article appears in: Investing , Commodities

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