CALGARY, Sept. 29, 2014 /CNW/ - Stream Oil & Gas Ltd.
(TSX-V: SKO) ("Stream" or the "Company") announces that, further to
its news release dated September 2, 2014 regarding its
proposed arrangement transaction (the "Transaction") with
TransAtlantic Petroleum Ltd. ("TransAtlantic"), TransAtlantic has
advised Stream that TransAtlantic's due diligence condition for the
Transaction has been satisfied and that TransAtlantic intends to
complete its transaction with Stream.
Stream has accordingly filed notice on SEDAR for a special
meeting of shareholders to be held on November 12, 2014 for
the purpose of considering and approving the Transaction. The
record date for the special meeting will be October 10, 2014.
Full details of the Transaction will be included in an information
circular to be mailed to Stream shareholders in connection with the
special meeting.
Stream expects that the Transaction will be completed in
November 2014, subject to receipt of applicable corporate,
government, regulatory and court approvals, among other customary
closing conditions.
About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and
gas production, development and exploration company focused on the
re-activation and re-development of three oilfields and a
gas/condensate field in Albania.
The Company's strategy is to use proven technology, incremental and
enhanced oil recovery techniques to significantly increase
production and reserves.
This news release contains forward‑looking statements that
address future events and conditions and are subject to various
risks and uncertainties in relation to the Company.
Specifically, the completion of the Transaction is subject to
shareholder, court and regulatory approval, including approval of
the TSX Venture Exchange. There is no assurance that the
Transaction will be completed. Forward‑looking statements are
based on the expectations and opinions of the management of the
Company on the date the statements are made. The assumptions
used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward‑looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Stream Oil & Gas Ltd.