Business
Softrock announces receipt of one millon Greencastle shares free and clear as result of August 13, 2003 deal
Softrock announces receipt of one millon Greencastle shares free and clear as result of August 13, 2003 deal.
About this update from Criterium Energy Ltd
[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 13 /CNW/ - Softrock Minerals Ltd. (SFT-TSX-Venture) has\nreceived one million shares of Greencastle Resources (VGN-TSX-Venture) as a\nresult of an agreement made in August 2003 whereby Softrock sold Vergene\nCapital Corp (fore-runner of Greencastle Resources (VGN-TSX-Venture)) seven\nSaskatchewan oil and gas leases for $190,000 plus one million shares of\nVergene (Greencastle) when the company had recovered their full purchase and\ndeveloping investment back from production from the leases plus another one\nmillion shares when the company had recovered twice its investment.\n\n\nThe second one million share payment to Softrock is expected sometime\nthis spring as the properties are now netting in excess of $200,000 per month\nto Greencastle as evidenced by their news release November 28, 2005 on their\nincome for the third quarter of 2005.\n\n\nMeanwhile testing is continuing with mixed results at two wells (9-31 and\n4-5) in the Manitou Lake area of west Saskatchewan (Softrock working interest\n30%). Seismic purchases and some new shooting is being done over and around\nSofrock interest leases.\n\n\n%SEDAR: 00005001E\n\n\n","length":1205,"tagName":"div"}]