5th Apr 2012 07:00
4 April 2012
Obtala Resources Limited
("Obtala" or the "Company")
(AIM: OBT)
Investment in Argentina
Obtala Resources Ltd today announces that discussions regarding the Heads of Agreement ("HOA") with Solo Oil plc ("Solo") to dispose of Ilakon Limited, a wholly owned Obtala subsidiary, which holds the beneficial rights to the Mina El Carmen block in Argentina, have been terminated by mutual agreement. The HOA announced in December 2011 anticipated completion in late January 2012, however, the parties have now concluded that administrative delays in due diligence preclude timely completion and have agreed to terminate the HOA.
Obtala Resources Francesco Scolaro - ChairmanSimon Rollason - Managing Director www.obtalaresources.com | +44 (0) 20 7099 1940
|
Macquarie Capital (Europe) Limited (Nomad and Broker) | |
Steve Baldwin | +44 (0) 20 3037 2000 |
Nicholas Harland | |
Threadneedle Communications | |
Beth Harris
| +44(0) 20 7653 9855 |
Related Shares:
SOLO.LWoodbois