Pursuant to an agreement between Brownstone and Adira, Brownstone has the right, subject to certain conditions, to earn a 15% participating interest in Adira Energy's interest in all offshore licenses. See press release dated September 14, 2009."
Wednesday, August 25, 2010
(BIZ) Brownstone Joint Venture Partner Acquires New Off-Shore Israel Interest
"Brownstone Ventures Inc. is pleased to announce that Adira Energy Ltd., Brownstone's joint venture partner in offshore Israel, has announced that it has signed a definitive co-operation agreement with Geo Global Resources Inc., and its wholly owned subsidiary, Geo Global Resources (India) Inc. (collectively 'GGR') confirming the terms whereby GGR have agreed to assign an option it has to acquire up to a 5% participating interest in each of two deepwater licenses offshore Israel known as Petroleum Licenses 347 'Myra' and 348 'Sara', to Adira (the 'M&S Options').
Pursuant to an agreement between Brownstone and Adira, Brownstone has the right, subject to certain conditions, to earn a 15% participating interest in Adira Energy's interest in all offshore licenses. See press release dated September 14, 2009."
Pursuant to an agreement between Brownstone and Adira, Brownstone has the right, subject to certain conditions, to earn a 15% participating interest in Adira Energy's interest in all offshore licenses. See press release dated September 14, 2009."
