Vulcan is pleased to announce that it has entered into a Term Sheet agreement with its partner Investcan Energy Corporation (Investcan) to sell its 30% working interest in exploration licence 1107 offshore Labrador for a cash payment of $1.75 million on closing and "success" payments of $500,000 upon the spudding of a well on the exploration [...]
Following upon a Term Sheet agreement whereby the Company will convert its working interest in the three onshore petroleum permits in western Newfoundland to a 2% royalty and a $2.5 million payment, the Company and Investcan Energy Corporation (Investcan) have finalized and signed a definitive Purchase and Sale agreement. Final closing of the [...]
Vulcan is pleased to announce a transaction with Investcan Energy regarding the Bay St. George petroleum project onshore western Newfoundland. Vulcan and Investcan each own a 50% working interest in the project with Vulcan as the operator. Pursuant to a term sheet agreement Investcan agrees to purchase Vulcan's 50% working interest for a $2.5 [...]
Vulcan announces that it has been advised by NWest Energy that NWest has entered into an agreement with Shoal Point Energy whereby Shoal Pt. will acquire 100% working interest in approximately 500,000 acres in exploration licence (EL)1079R, offshore western Newfoundland. Vulcan owns 19.1% of the common shares of NWest. The NWest-Shoal Pt. agreement [...]
Vulcan announces that it has issued by way of a non- brokered private placement 350,000 flow-through share units at $0.20 per Unit for total proceeds of $70,000 which will be used to fund the Company's ongoing exploration activities in western Newfoundland. The Units consist of one flow-through share and one-half of a common share purchase warrant [...]
Vulcan is pleased to announce it has commenced an airborne gravity survey over certain mineral licences in western Newfoundland. Fugro Airborne Surveys Corp. has been retained to fly their proprietary Falcon AGG gravity survey. The survey will help delineate the distribution of evaporitic rocks which potentially contain potash and salt. This [...]
