Business
Porto Energy Corp. Reports Second Quarter Fiscal 2011 Results
Apr. 28, 2011 (Canada NewsWire Group) -- / NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR ...
About this update from Peak Discovery Capital Ltd
[{"type":"text","content":"\n\n\n Apr. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/\n\n\nTHE WOODLANDS, TX, April 28 /CNW/ - Porto Energy Corp., ("Porto" or the "Company") (TSXV:PEC), a company focused on oil and gas exploration, appraisal\n and development in Portugal, today announced its financial results for\n the three and six month periods ended February 28, 2011. All amounts\n are stated in US dollars unless otherwise noted by C$ for Canadian\n dollars or € for Euros.\n\n\nSelected Recent Highlights\n\n\n\nSuccessfully completed a private placement in December 2010 which placed\n 29,326,683 units at a price of $0.60 per unit for gross proceeds of\n approximately $17,596,000;\n\n\nSuccessfully completed an initial public offering (the "Offering")\n through a syndicate of underwriters (the "Agents"), issuing 70,000,000\n common shares at a price of C$1.00 raising gross proceeds C$70,000,000;\n\n\nAcquired 240 km2 of 3D seismic within the Aljubarrota-3 and Torres Vedras-3 Concessions\n in anticipation of the 2011-2012 exploration and development work\n programs, with interpretation expected to be completed by the end of\n the third fiscal quarter 2011;\n\n\nEntered into a one year drilling contract with KCA Deutag Drilling GmbH\n valued at approximately €...