Investment in Argentina

RNS Number : 8621A

Obtala Resources Limited

05 April 2012

 



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 - Chairman Simon Rollason - Managing Director www.obtalaresources.com	[phone]
Macquarie Capital (Europe) Limited (Nomad and Broker)
Steve Baldwin	[phone]
Nicholas Harland
Threadneedle Communications
Beth Harris	[phone]

 

END

 

 

MSCSSAFILFESELL