Wolf: QUARTERLY ACTIVITIES REPORT
January 24, Wolf Petroleum Limited (ASX:WOF) --
Highlights:
· Wolf Petroleum takeover and re-listing
Strzelecki (STZ) announced a takeover offer for all of the securities in Wolf Petroleum (Wolf).
On 29 October 2012 STZ announced that it had received 100% acceptances from Wolf shareholders and STZ was renamed and re-listed on ASX as WOF on 21st of December 2012.
· Production Sharing Contract Awarded
The government of Mongolia, under the National Security Council’s guidance, gave rights to the Petroleum Authority of Mongolia (PAM) to sign a Production Sharing Contract (PSC) with Wolf Petroleum Limited.
The PSC with the government of Mongolia secures favourable investment terms and enables Wolf to conduct oil exploration for up to 14 years (including available extensions) and production for up to 30 years.
· Board changes
The board has been restructured and new directors have been appointed. The newly appointed directors have outstanding international industry experience. Critically for Wolf, this experience includes a strong and proven capability in the resources sector in Mongolia, especially in exploration and development.
· Aggressive Exploration Programmes Underway
Wolf has planned aggressive exploration programmes in order to complete two-and-a-half-year contract commitments in one year and commence the initial drilling programme in 2013.
…
Highlights:
· Wolf Petroleum takeover and re-listing
Strzelecki (STZ) announced a takeover offer for all of the securities in Wolf Petroleum (Wolf).
On 29 October 2012 STZ announced that it had received 100% acceptances from Wolf shareholders and STZ was renamed and re-listed on ASX as WOF on 21st of December 2012.
· Production Sharing Contract Awarded
The government of Mongolia, under the National Security Council’s guidance, gave rights to the Petroleum Authority of Mongolia (PAM) to sign a Production Sharing Contract (PSC) with Wolf Petroleum Limited.
The PSC with the government of Mongolia secures favourable investment terms and enables Wolf to conduct oil exploration for up to 14 years (including available extensions) and production for up to 30 years.
· Board changes
The board has been restructured and new directors have been appointed. The newly appointed directors have outstanding international industry experience. Critically for Wolf, this experience includes a strong and proven capability in the resources sector in Mongolia, especially in exploration and development.
· Aggressive Exploration Programmes Underway
Wolf has planned aggressive exploration programmes in order to complete two-and-a-half-year contract commitments in one year and commence the initial drilling programme in 2013.
…
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