2 Aug 2012 09:30
2 August 2012
Mercom Oil Sands Plc (AIM: MMO)
("Mercom" or "the Company")
Update on Farm-in Agreement with Nordic Petroleum
Mercom Oil Sands Plc, announces that it is in discussions with its joint venture partner, Nordic Petroleum regarding its farm-in agreement in four oil sand leases over the Chard field in Alberta, Canada. Following the recent appointment of John Zorbas as Chief Executive, the volatility in the price of oil and other investment opportunities which are now available to the Company, Mercom has asked to review the current Farm-in Agreement. A further statement will be made shortly.
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Enquiries:
Libertas Capital Corporate Finance Ltd +44 (0) 20 7569 9650
Tim Cofman- Nicoresti
Cardew Group +44 (0) 20 7930 0777
Tim Robertson/Alexandra Stoneham