Portal announces that the Company will be seeking shareholder approval to consolidate the Company's common shares on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares or at such lower consolidation ratio as may be required by the TSX Venture Exchange. The Company will also be seeking shareholder [...]
Portal Resources Ltd. is pleased to announce that, further to its news release of December 20, 2011, it completed today the acquisition of the oil and gas production assets in west central Saskatchewan for a total purchase price of $8.3 million. The purchase consideration was paid all in cash (and no shares of Portal as previously contemplated).
Portal is pleased to announce the financing structure for its proposed $8.3 million acquisition of oil and natural gas production, reserves and associated assets in West Central Saskatchewan. To complete the acquisition the Company will raise $9 million with a combination of the following: 1) $2.5 million in senior bank debt for the purchase with a [...]
Portal Resources Ltd. is pleased to announce that the terms of the Company's proposed acquisition of oil and gas production assets in West Central Saskatchewan have been amended. Changes to the Purchase and Sale Agreement consist of the following: i) the purchase price will now be $8.3 million (previously $9.1 million); ii) the seller will be [...]
Portal is pleased to announce that Mr. Brent Marzolf CA, CPA has joined the Company's Oil and Gas Advisory Board. Mr. Marzolf received a Bachelor of Commerce degree from the University of Saskatchewan in 1982, a Chartered Accountant designation in 1986, a Certified Public Accountant designation in 1996, and has 30 years of oil and gas industry [...]
Portal Resources Ltd. is pleased to announce that it has signed a Purchase and Sale Agreement for the acquisition of production and assets from an intermediate NYSE listed oil producer for $9.1 million. The assets are located in West Central Saskatchewan and produced 365 boe/day during the month of August. The effective date of the transaction is [...]
