VANCOUVER, Nov. 18, 2014 /CNW/
- Stream Oil & Gas Ltd. ("Stream" or the
"Company") (TSXV: SKO) is pleased to announce the completion
today of the previously announced business combination of the
Company with TransAtlantic Petroleum Ltd. ("TransAtlantic")
pursuant to a plan of arrangement under the Business
Corporations Act (British
Columbia) (the "Arrangement"). Pursuant to the
Arrangement, on a per share basis, each common share of Stream has
been deemed exchanged for up to 0.05657 common shares of
TransAtlantic. More specifically, 0.04812 common shares of
TransAtlantic were issuable at closing, while an additional 0.00845
common shares of TransAtlantic will be issued if certain conditions
are met by Stream within nine months of the closing date.
With the completion of the Arrangement, the
common shares of Stream are expected to be de‑listed from the TSX
Venture Exchange in a few trading days.
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, there is no assurance that the common
shares of Stream will be de-listed from the TSX Venture Exchange in
a few trading days or that certain conditions are met by Stream
within nine months of the closing date (resulting in an additional
0.00845 common shares of TransAtlantic being received by Stream
shareholders). 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.