V.GSA beginning to wake up here....
Groundstar Resources Ltd
Symbol GSA
Shares Issued 16,305,408
Close 2005-08-08 C$ 0.47
Recent Sedar Documents
Groundstar acquires Takutu Basin interest, subsidiary
2005-08-08 16:19 ET - Property Agreement
The TSX Venture Exchange has accepted for filing a petroleum agreement dated July 13, 2005, between Groundstar Resources Ltd. and the government of Guyana, pursuant to which the company will acquire 50 per cent of an undivided 100-per-cent interest of the Takutu Basin property located in Guyana, South America. In addition, the company will acquire the remaining 50 per cent of the issued and outstanding common shares of Groundstar Resources International Inc. from Patrick Sheridan Jr. in exchange for one million common shares. Groundstar Resources International will be a wholly owned subsidiary of the company on a go-forward basis and will be the legal owner of the Takutu Basin property.
In order to earn its interest in the Takutu Basin property, the company must incur $5,405,000 (U.S.) of exploration expenditures ($630,000 (U.S.) within the first year).
For further details, please refer to the company's press releases dated April 29, June 29 and July 18, 2005.
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