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Aug 21, 2014
News Releases Newcastle Energy Corp receives approval for Share Capital Consolidation by Shareholders and TSX Vent... more... |
On April 30, 2014, the Company closed the sale of its remaining interest in the Lak Ranch Oil Project, its sole remaining operating asset, to Maha Energy Corp. a private Calgary based energy company. Consideration received from Maha included, among other things, shares in Maha. Maha is in the process of becoming a publicly traded entity. The Maha shares are the most significant asset of the Company and as the value of these private company shares is uncertain, management is waiting for the completion of the Maha liquidity process before planning a future course for the Company. | ||||
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