Oyster Oil & Gas (OY-V) to acquire 10% interest in block 1101
www.oysteroil.com
$3.9 million cash (as of March 31, 2013)
July 2nd 2013 - News Release
Oyster Oil and Gas Ltd. has reached agreement with Candax Energy Inc. to acquire its 10-per-cent working interest in block 1101 onshore Madagascar. The transaction is subject to completion of due diligence, exchange approval and approval of the government of Madagascar.
Michael Wood, president and chief executive officer, commented: "Oyster is very pleased with this acquisition in Madagascar, which we believe holds strategically significant oil exploration potential. Together with Afren PLC, the operator, we will be undertaking a 2013-2014 work program that includes high-impact exploration activity and a drilling program scheduled within the next 12 months."
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Oyster Oil and Gas Ltd. Appoints Donald Sharpe to Board of Directors
April 23 2013 – News Release
OY-V is pleased to announce the appointment of Donald A. Sharpe to its Board of Directors.
Donald Sharpe is a professional geophysicist with numerous years of experience in the oil and gas business. Mr. Sharpe is the President of D. Sharpe Management Inc., a private consulting firm under the umbrella of which he has consulted to, managed and served as a director of a number of start-up oil and gas companies including Patriot Petroleum Corp., Gemini Energy Corp., Velvet Exploration Inc. and Netco Energy Inc. (now Netco Silver Inc.). From February 2008 to April 2011 and prior to its completion of a plan of arrangement with HRT Participações em Petróleo S.A., Mr. Sharpe served as a director of UNX Energy Corp. (formerly Universal Power Corp.), an issuer formerly listed on the TSX Venture Exchange. From December 2009 to May 2012, Mr. Sharpe served as President and a director of Coronado Corp. (now Vampt America, Inc.), an early stage start-up company incorporated in Nevada and quoted on the OTCBB. Additionally, Mr. Sharpe was from May 2004 to August 2012, the President, Chief Executive Officer and a director of Eden Energy Corp., a company quoted on the OTCBB, and he is the President and Chief Executive Officer and a director of Black Springs Capital Corp., a capital pool company pursuant to the policies of the TSX Venture Exchange. Mr. Sharpe is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. Mr. Sharpe received a Bachelor of Science in Geophysics from the University of British Columbia in 1981 and a Certificate in Business Management from the University of Calgary in 1989.
Oyster Oil and Gas Ltd. also announces that it has granted incentive stock options to certain of its directors and consultants entitling the purchase of an aggregate 1,100,000 common shares, 1,000,000 at a per share exercise price of $0.55 and 100,000 common shares at a per share exercise price of $0.68, all for a period of 5 years.
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