ORACLE ENERGY CORP. : http://www.oracleenergy.com/ : QwikReport

News Releases

#Fri Nov 3, 2017
Oracle Resumes Trading on the TSX Venture Exchange

 Vancouver November 3, 2017 - Oracle Energy Corp. ("Oracle" or the "Company") announces that its shares will resume trading on the TSX Venture Exchange (the "Exchange") on Tuesday November 7, 2017 after having undergone a trading resumption review by the Exchange. Resumption of trading is conditional upon the Company announcing, within 30 days of trading resumption, that it has entered into a transaction sufficient to meet continued listings requirements. In the event that the Company fails to announce such a transaction within the 30 day period the Company will be transferred to NEX.

The Company also announces that as part of the termination of the oil and gas transaction announced on June 21,2017 the Company is owed $175,000 for out of pocket costs but to date has not received any of the amount owing.

The Company is reviewing other potential opportunities in the oil and gas sector.

About Oracle Energy Corp.

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company.

For more information on Oracle Energy visit www.OracleEnergy.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
#Wed Jun 21, 2017
Oracle Terminates Acquisition of right to Earn Interests in African Oil and Gas Assets

 Vancouver June 21, 2017 - Oracle Energy Corp. ("Oracle" or the "Company") announces that it has terminated its option, announced by news release March 15, 2017, to acquire rights to participate in the exploration and development of certain oil and gas assets in West Africa.

The Company also announces that it will be cancelling the share consolidation and the $0.1125 financing and debt settlement referred to in the Company's March 15, 2017 news release.

The Company is reviewing other potential opportunities in the oil and gas sector.

About Oracle Energy Corp.

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company.

For more information on Oracle Energy visit www.OracleEnergy.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
#Wed Mar 15, 2017
Oracle Energy Acquires Right to Earn Interests in African Oil and Gas Assets

 Vancouver March 15, 2017 - Oracle Energy Corp. ("Oracle" or the "Company") is pleased to announce that it has signed a letter agreement (the "Agreement") with an arm's length company (the "Optionor") providing Oracle with an option to acquire 100% of the Optionor's rights to participate in the exploration and development of certain oil and gas assets in West Africa (the "Option").

The Company has, pursuant to a memorandum of understanding between the Optionor and the underlying owner of the oil and gas assets (the "MOU") as assigned to the Company pursuant to the Option, acquired: (i) the right to earn up to a 45% interest in an Exploitation and Production Sharing Contract which covers various oil fields including one field having current continuous production capable of being increased (the "Exploitation Contract"); and (ii) the right to earn up to a 35% interest in an Exploration and Production Sharing Contract that includes a gas-condensate discovery (the "Exploration Contract").

The Option is conditional upon the Optionor obtaining certain amendments to the MOU including extensions to various time related deadlines relating to the funding for and development of the assets in question as well as other requirements as follows: (i) production of a NI-51-101 compliant technical report; (ii) engagement of investment bankers at which time the underlying owner will confirm exclusivity until completion of the financing required to meet the investment requirement; and (iii) completion of the required financing in order to complete the required investment under the MOU.

Pursuant to the MOU, as assigned to the Company, the underlying owner has agreed to assign the participating interests in the Exploitation Contract and the Exploration Contract against the required investment by Oracle of up to US$100 million (the "Estimated Required Investment") including US$10 million in farm-in fees and US$90 million in development and appraisal costs for the various fields of which US$40 million will be classified as loan funds to the project which, together with interest, will be repaid to Oracle on a priority basis. Oracle intends on initially raising US$35 million as the first tranche of the overall approximate $100 million required investment. Upon expending the initial $35 million the Company will have earned the above mentioned interest in the Exploitation and Exploration PSCs subject to the Company subsequently expending the remainder of the Estimated Required Investment failing which the Company's interest will be reduced in a yet to be determined manner. The Company, will enter into a Joint Operating Agreement, an Accounting Agreement and a Hydrocarbons Marketing Agreement. The MOU also provides that the parties will collaborate in adding further petroleum assets to the Exploitation Contract and the Exploration Contract.

In addition to completing an initial working capital financing of up to $1.5 million (the "Initial Funding") and subsequent project financings in tranches, in the amount required to meet the requirements under the MOU, in order to exercise the Option the Company will, subject to applicable regulatory approvals: (i) engage and pay for a qualified technical person to author a NI-51 101 compliant technical report on the project assets which is currently underway and is being prepared by McDaniel and Associates; (ii) fund the costs of and complete due diligence on the proposed project; (iii) complete a consolidation of its shares (the "Consolidation") on a 10:1 basis; (iv) settle the majority of its outstanding debt by the issuance of shares at a price of $.1125

(the "Debt Settlement"); (v) issue to the Optionor approximately 25 million post-consolidation shares, such number being subject to increase or decrease depending on whether there is greater or fewer than 30 million shares outstanding on a consolidated basis after the Consolidation and Debt Settlement with the issuance of a portion of such shares to be delayed until they can be issued without creating a control block,(vi) re-constitute its board of directors by increasing the number of directors to seven to be comprised of three representatives from each of the Optionor and Oracle with the seventh member being appointed by mutual agreement; and (vii) appoint of at least two key senior management/officer positions from the Optionor.

The Company announces that, subject to regulatory approval and post Consolidation and Debt Settlement, it will be completing the Initial Funding of up to $1.5 million by the issuance of
$0.1125 units consisting of one common share and one-half of a share purchase warrant, each full warrant being exercisable at $0.225 to acquire a further common share for two years following issuance. The Company also advises that a finder's fee, in accordance with the maximum allowed by TSX.V policy is payable in respect to the transaction.

About Oracle Energy Corp.

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company.

For more information on Oracle Energy visit www.OracleEnergy.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
 
#Wed Apr 27, 2016
Oracle Energy Announces Resignation of CFO

 Vancouver April 27, 2016 - Oracle Energy Corp. (TSX-V OEC) (the "Company" or "Oracle") announces that Martin Yeo is stepping down as CFO of the Company effective immediately. Martin will continue working with management of the Company as VP Planning. Oracle is appreciative of Martin's many contributions as CFO and looks forward to his continuing support in his new role.

The Company also announces that Mark Forster has been appointed as Interim CFO. Mr. Forster has over 30 years of financial accounting and consulting experience in banking, manufacturing, and the oil and gas industries working for many private and public sector companies. He has worked with Oracle Energy Corp. for the past 10 years since as an external financial consultant. He is currently the CFO of MYM Nutraceuticals Inc., a publicly traded Company on the Canadian Stock Exchange. Since December 2004 he has been a director and CFO of Teletouch Services Inc., a private technology company. He was a manager of Bearingpoint LLP, a management and technology consulting company, from January 1996 to December 2006. Mark G. Forster was granted a CGA designation by the Certified General Accountant's Association, BC in 1992.

About Oracle Energy Corp.

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company with focus on development of Nigeria's huge oil and gas resources. Oracle has relationships with a number of oil and gas indigenous partners in Nigeria and is well positioned to participate as technical and financial partner to Marginal Field operators and the acquisition of assets in the continuing International Oil Company asset divestment processes.

For more information on Oracle Energy visit www.OracleEnergy.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
 
#Fri Apr 10, 2015
Oracle Energy Corporate Update

 Vancouver April 10, 2015 - Oracle Energy Corp is pleased to announce the engagement of Aldwych Capital Partners of New York to act as financial advisors in raising new sources of capital for Oracle's Nigeria growth strategy.

Aldwych is a boutique investment bank focused on domestic and international transactions including; M&A advisory, emerging markets transactions, private debt and equity financing, project finance and various other special situation assignments. Aldwych has a wealth of experience in advising on oil and gas transactions and is committed to increasing their presence in sub-Saharan Africa. Aldwych will be compensated upon closing a transaction in accordance with the terms of the engagement agreement.

Oracle remains focused on obtaining Producing and Development concessions in the prolific West African basins and in particular in Nigeria. Nigeria has over one thousand discovered oil and gas fields of which less than three hundred and fifty are developed. Entrance into these opportunities requires foreign companies to work in partnership with Nigerian companies. The Oracle team has successful "on the ground" experience in developing and operating these fields and has long term relationships with senior oil industry professionals who are leading indigenous Nigerian companies. Oracle is focused on applying this expertise and these relationships to build near and long term shareholder value.

Oracle is currently engaged in negotiations on several near term producing opportunities and will advise shareholders as these develop.

About Oracle Energy Corp.

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company with focus on development of Nigeria's huge oil and gas resources. Oracle has relationships with a number of oil and gas indigenous partners in Nigeria and is well positioned to participate as technical and financial partner to Marginal Field operators and the acquisition of assets in the continuing International Oil Company asset divestment processes.

For more information on Oracle Energy visit www.OracleEnergy.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
 

Copyright © 2017 by Oracle Energy Corp.   All rights reserved worldwide.
For more information, send questions and comments to
This page was created on Sat Dec 16, 2017 at 8:57:28 AM Pacific Time.