Latest news with #RobertBose
Globe and Mail
25-06-2025
- Business
- Globe and Mail
New Zealand Energy Corp. Announces Revocation of CTO, Resumption of Trading and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announces that it has received an order from the British Columbia Securities Commission dated effective June 4, 2025, granting the full revocation of the cease trade order previously issued on May 6, 2025. Upon the issuance of the cease trade order, the common shares of NZEC were suspended from trading on the TSX Venture Exchange ("TSXV"). The common shares will be reinstated for trading on the TSXV at the opening of trading on or about Friday, June 27, 2025. The Company also announces that it has received short term loans in the amount of C$300,000 from Charlestown Energy Partners, LLC ("Charlestown") and in the amount of C$182,000 from Vliet Financing BV ("Vliet") on May 27, 2025, subject to TSXV approval. The loans are unsecured and non-convertible, with interest payable at 15% per annum, due on August 27, 2025, were issued with an original issuance discount of 10% and for greater certainty, no securities were issued as part of the loan agreements. Mr. Robert Bose, a director of NZEC, is a principal of Charlestown and Vliet is a company controlled by Mr. Frank Jacobs, Chairman and a director of NZEC, and therefore the loans are related party transactions for the purposes of TSXV Policy 5.9 and Multilateral Instrument 61-101 (the "Related Party Policies"). NZEC has determined that exemptions from the various requirements of the Related Party Policies are available in connection with the loans (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000). The Company also noted that, in connection with the working capital deficiency of C$4,013,465 as disclosed in the interim financial statements for the three months ended March 31, 2025, a total of $2.7 million related to an outstanding loan, which, as disclosed in its news release dated May 12, 2025, has been amended, subject to TSXV approval, to allow the Company to terminate the loan in exchange for the payment by the Company to Vliet of C$500,000 and the issuance of 1,000,000 common shares of NZEC. In the event that the Company has been unable to make the payments to Vliet on or before July 31, 2025, Vliet has agreed to extend the maturity date of the loan to September 20, 2026, subject to TSXV approval. With respect to the remainder of the working capital deficiency in the amount of C$1.3 million, the Company intends to complete a private placement in the near future, the terms of which (including structure, size and pricing) will be announced in due course. In addition, as per the news release dated June 3, 2025, the Company is aimed at restoring positive cash flow based on the Q1 and Q2 2025 production activities. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company, including future plans and objectives, the outstanding loans of the Company, the proposed private placement and production activities. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: the underlying value of NZEC and its common shares, TSX Venture Exchange approval of the amendment to the loan and TSX Venture Exchange approval of a private placement; NZEC's current and initial understanding and analysis of its projects and the development required for such projects; the costs of NZEC's projects; NZEC's general and administrative costs remaining constant; and the market acceptance of NZEC's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NZEC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; imprecision of reserve estimates; environmental risks; operational risks in exploration and development; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting NZEC; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in NZEC's disclosure documents on the SEDAR+ website at Although NZEC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of NZEC as of the date of this news release and, accordingly, is subject to change after such date. However, NZEC expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Yahoo
25-06-2025
- Business
- Yahoo
New Zealand Energy Corp. Announces Revocation of CTO, Resumption of Trading and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announces that it has received an order from the British Columbia Securities Commission dated effective June 4, 2025, granting the full revocation of the cease trade order previously issued on May 6, 2025. Upon the issuance of the cease trade order, the common shares of NZEC were suspended from trading on the TSX Venture Exchange ("TSXV"). The common shares will be reinstated for trading on the TSXV at the opening of trading on or about Friday, June 27, 2025. The Company also announces that it has received short term loans in the amount of C$300,000 from Charlestown Energy Partners, LLC ("Charlestown") and in the amount of C$182,000 from Vliet Financing BV ("Vliet") on May 27, 2025, subject to TSXV approval. The loans are unsecured and non-convertible, with interest payable at 15% per annum, due on August 27, 2025, were issued with an original issuance discount of 10% and for greater certainty, no securities were issued as part of the loan agreements. Mr. Robert Bose, a director of NZEC, is a principal of Charlestown and Vliet is a company controlled by Mr. Frank Jacobs, Chairman and a director of NZEC, and therefore the loans are related party transactions for the purposes of TSXV Policy 5.9 and Multilateral Instrument 61-101 (the "Related Party Policies"). NZEC has determined that exemptions from the various requirements of the Related Party Policies are available in connection with the loans (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000). The Company also noted that, in connection with the working capital deficiency of C$4,013,465 as disclosed in the interim financial statements for the three months ended March 31, 2025, a total of $2.7 million related to an outstanding loan, which, as disclosed in its news release dated May 12, 2025, has been amended, subject to TSXV approval, to allow the Company to terminate the loan in exchange for the payment by the Company to Vliet of C$500,000 and the issuance of 1,000,000 common shares of NZEC. In the event that the Company has been unable to make the payments to Vliet on or before July 31, 2025, Vliet has agreed to extend the maturity date of the loan to September 20, 2026, subject to TSXV approval. With respect to the remainder of the working capital deficiency in the amount of C$1.3 million, the Company intends to complete a private placement in the near future, the terms of which (including structure, size and pricing) will be announced in due course. In addition, as per the news release dated June 3, 2025, the Company is aimed at restoring positive cash flow based on the Q1 and Q2 2025 production activities. On behalf of the Board of Directors "Michael Adams"Chief Executive OfficerNew Zealand Energy +64-6-757-4470New Zealand Energy Corp. ContactsEmail: info@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company, including future plans and objectives, the outstanding loans of the Company, the proposed private placement and production activities. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: the underlying value of NZEC and its common shares, TSX Venture Exchange approval of the amendment to the loan and TSX Venture Exchange approval of a private placement; NZEC's current and initial understanding and analysis of its projects and the development required for such projects; the costs of NZEC's projects; NZEC's general and administrative costs remaining constant; and the market acceptance of NZEC's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NZEC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; imprecision of reserve estimates; environmental risks; operational risks in exploration and development; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting NZEC; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in NZEC's disclosure documents on the SEDAR+ website at Although NZEC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of NZEC as of the date of this news release and, accordingly, is subject to change after such date. However, NZEC expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. To view the source version of this press release, please visit Sign in to access your portfolio
Zawya
30-05-2025
- Business
- Zawya
Sintana Energy Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Amid Regional Market Expansion
Robert Bose, CEO of independent oil and gas company Sintana Energy, will participate at the upcoming African Energy Week (AEW): Invest in African Energies 2025 conference in Cape Town. His participation underscores Sintana Energy's commitment to partnering with African stakeholders to unlock Africa's vast energy potential, driving energy security, industrialization and broader economic growth across the continent. In recent months, Sintana Energy has expanded its presence across Africa, advancing its portfolio of exploration and production assets in strategic markets. Through its participatory interest in blocks in Angola and Namibia, the company targets new discoveries, supporting efforts to unlock new hydrocarbon plays in southern Africa. At AEW: Invest in African Energies, Bose is expected to share insights into ongoing exploration initiatives. AEW: Invest in African Energies serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from September 29-October 3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Sintana Energy entered the Angolan market in May 2025 with the signing of a strategic partnership with UK-based E&P firm Corcel. The deal aims to unlock oil and gas potential in Angola's highly prospective onshore Kwanza Basin and comprises a 5% stake in Block KON-16. The farm-in serves to support development activities at the block. These include ongoing de-risking efforts, a 3D seismic acquisition program and a robust exploration campaign scheduled for 2026. The partnership also aims to identify and develop additional assets across Angola. Meanwhile, through its interest in Custos Energy, Sintana Energy is involved in exploration efforts within Petroleum Exploration License (PEL) 87 in Namibia's Orange Basin. A high-quality 6,593 km² 3D seismic dataset has already confirmed hydrocarbon potential in the block. The project partners are currently seeking a farm-in partner to support exploration and development at the block. Meanwhile, in PEL 83, Sintana Energy is advancing the development of the Mopane discoveries, with ongoing drilling campaigns in Blocks 2813A and 2814B in partnership with Galp Energia (operator) and Namibia's National Petroleum Corporation. As of February 2025, the companies successfully drilled, cored and logged the Mopane-3X well, with preliminary data confirming significant columns of light oil and gas condensate. A 3D seismic acquisition campaign is underway and expected to be completed shortly. At PEL 90, the company continues to explore the country's hydrocarbon potential through drilling activities such as the Kapana-1X well. In 2024, Sintana Energy acquired a 49% interest in Giraffe Energy, and subsequently, assumed a stake in PEL 79 in Namibia. The acquisition reaffirms the company's long-term strategy to become a major player in Namibia's oil and gas industry. At AEW: Invest in African Energies 2025, Bose will highlight these milestones, sharing insight into ongoing drilling campaigns and future investment prospects. 'Sintana Energy has played an instrumental part in showcasing the potential of Namibia's Orange Basin. As the country seeks to achieve first oil and gas production, companies such as Sintana Energy will be crucial. The firm's entrance into Angola is also a strong testament to its commitment to Africa's oil and gas landscape,' stated Ore' Onagbesan, Project Director, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Ottawa Citizen
14-05-2025
- Business
- Ottawa Citizen
Angola Entry via Strategic Partnership with Corcel plc Investment in KON-16 Onshore Kwanza Basin
Article content TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) ('Sintana' or the 'Company') is pleased to announce the formation of a strategic partnership with Corcel, plc (AIM: CRCL) ('Corcel') focused initially on opportunities in Angola. Article content Article content Specifically, Sintana and Corcel have entered into an agreement which provides for Sintana's acquisition of an indirect 5% net interest in KON-16 located in the onshore Kwanza Basin in Angola. Sintana will acquire its interest through the acquisition of a 5.88% equity stake in a newly formed Special Purpose Vehicle ('SPV') that will hold Corcel's consolidated 85% gross interest in KON-16. Additionally, Sintana will receive a future 2.5% Net Profits Interest ('NPI') on Corcel's interest in KON-16 of up to $50,000,000, after which the NPI reduces to 1.5%. The consideration for the transaction is a total of US$2.5MM payable by way of an initial US$500,000 deposit and a balance of payment at closing, which is subject to entry into definitive documents and other completion conditions expected to occur in Q3 2025. Article content Article content KON-16 represents one of the most exciting opportunities in the onshore Kwanza Basin with a history of successful exploration establishing petroleum systems in both post- and pre-salt intervals. KON-16 has multiple exploration opportunities, including a large, multi-target prospect whose primary targets contain estimated unrisked volumes of several hundred million barrels of recoverable oil. Article content Corcel and Sintana have also executed a Joint Study and Bid Agreement establishing an alliance to evaluate and pursue oil and gas exploration and production opportunities in Angola. Under the agreement, both parties commit to jointly collaborate on the identification and review of new opportunities. Participation in any specific opportunity is voluntary and subject to unanimous agreement on commercial and other bid terms. Article content Article content 'Our emerging partnership with Corcel is emblematic of our strategy to work with best-in-class partners and deploy high impact capital that brings us exposure to large potential resource outcomes that require little additional capital,' said Robert Bose, CEO of Sintana. 'We look forward to the expansion of our West African conjugate margin exposure through our acquisition of an interest in KON-16, one of the most promising blocks in a proven, underexplored basin,' he added. Article content Article content The Company is engaged in petroleum and natural gas exploration and development activities on six large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia's Magdalena Basin. Article content 'A. Robert Bose' Chief Executive Officer Article content For additional information or to sign-up to receive periodic updates about Sintana's projects, and corporate activities, please visit the Company's website at Article content Certain information in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, statements as to the future prospectivity of KON-16, the closing of the proposed transaction with Corcel as presently proposed or at all, the receipt of all applicable regulatory approvals, as well as the prospective nature of the Company's property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company's public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, 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. The Company assumes no obligation to update such information, except as may be required by law. Article content
