Sonde Resources Corp.

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
0MM
Description


Sonde Resources Corp., Calgary, (Toronto, NYSE Amex: SOQ) has retained Bank of America Merrill Lynch to identify and evaluate alternatives to finance its remaining North Africa obligations, which includes potentially selling, farming out, seeking a joint venture or other alternatives with regard to its 100% working interest in the Joint Oil block in North Africa.

The 780,000-acre Joint Oil block splits the Libya/Tunisia border. The national oil companies are partner is Joint Oil (a coalition between Tunisia and Libya), and Sonde is operator. The Sonde Zarat North-1 appraisal well has 240 feet of net pay, confirms substantial oil/condensate/gas accumulation to be appraised and developed between 2011 and 2013. The block is subject to force majeure.

Contact Sonde investor relations, 403-294-1411.