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