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Sonde Resources Provides Update on Farm-Out of Joint Oil Block

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Sonde Resources Corp. (SOQ.TO) has entered into an agreement with Viking Energy North Africa Limited to extend the deadline for meeting the conditions precedent under the Farm-Out Agreement that includes obtaining the consent of Joint Oil to the transfer of a 66.67% interest in the Joint Oil Block pursuant to the previously announced farm-out agreement to June 7, 2013.

To date, the company and Viking have held a series of discussions and exchanged correspondence with Joint Oil regarding the proposed farm-out and the conditions upon which Joint Oil would be prepared to provide its approval.

SOQ was down 7% to $1.30, with 52-week range of $0.63 - $2.44.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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