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| Home : Morumbi Oil & Gas Inc. Closes Acquisition |
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Mar 26
2011 |
Morumbi Oil & Gas Inc. Closes Acquisition |
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CALGARY, ALBERTA--(Marketwire - March 25, 2011) - Morumbi Oil & Gas Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased to announce that it has acquired all of the issued and outstanding share capital of Rockwell Exploration S.A., a private company incorporated and existing in the Bahamas ("Rockwell"). In connection with the acquisition of Rockwell, Morumbi has paid cash consideration of US $582,000 in settlement of certain debts of Rockwell and has also issued an aggregate of 4,000,000 common shares of Morumbi to Rockwell's ten shareholders. Rockwell's business to date has been focused on sourcing and developing exploration opportunities in Papua New Guinea ("PNG") with a focus on oil and gas exploration opportunities. |
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| Source:http://www.marketwire.com/mw/release.do?id=1417889&sourceType=3 |
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