2016

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

 

2009

 

Archives

   
20162015201420132012201120102009Archives
PETROMIN ANNOUNCES CLOSING OF TERRAWEST PRIVATE PLACEMENT
 
PETROMIN ANNOUNCES CLOSING OF TERRAWEST PRIVATE PLACEMENT

Wednesday, 06 April 2011

 

Vancouver, British Columbia, April 4, 2011 – Petromin Resources Ltd. (“Petromin” or, the “Company”) announces that TerraWest Energy Corp. (“TerraWest”) closed the second tranche of the private placement (the “Private Placement”) with Aces Diamond International Ltd. (“Aces”) of 63 million units at a subscription price of $3,150,000. Aces is a wholly-owned subsidiary of Enviro Energy International Holdings Ltd. 

Reference is made to the announcement of the Company dated July 30, 2010 in relation to the subscription for 90 million units in Terrawest by Aces.

Prior to the date hereof, Aces has completed subscription for 27 million units out of the 90 million units at a subscription price of $1,350,000. On April 1, 2011, Aces completed the subscription for the remaining 63 million units to close the subscription agreement entered into On July 25, 2010. The subscription will provide Terrawest with the necessary finances to complete its annual drilling program and continue to meet its commitments under its coalbed methane production sharing contract with China United Coalbed Methane Corp., Ltd.

Following the closing of the Private Placement, Petromin holds an approximately 22.28% equity interest in TerraWest, or approximately 12.23% on a fully diluted basis.

Subscribe to stay up-to-date on Petromin's latest announcements and official news releases.

name:

email:

profile:

Investor

Investment broker

Analyst

Media

Other

Reaching an Agreement With CUCBM
 
Learn more >

Petromin commenced CBM wells in China
 
Learn more >
© 2008 Petromin Resources Ltd. All rights reserved. | tsx.v : PTR
contact us|disclaimer