Mr. Archie Nesbitt reports
MARKSMEN ANNOUNCES GRANT OF OPTIONS AND OPERATIONS UPDATE
Marksmen Energy Inc. has granted stock options to purchase 550,000 common shares of the company to officers and consultants subject to regulatory and TSX Venture Exchange approval. The options were issued with an exercise price of 15 cents per share, vest as to one-third immediately, and one-third on each of the first and second anniversaries of the date the option agreement is executed, and have a five-year term from the date of issuance.
Marksmen has advanced funds totalling $178,000 (U.S.) to its joint interest partner for the completion and construction of an injection well and facility located at B-78 No. 6. Marksmen's ownership will be 100 per cent. The well has been licensed as an injection well, acidized and completed. Facility construction is now under way that includes tanks and pumping equipment, as well as flow lines and power to the company's existing wells.
The company is currently designing an additional 3-D seismic acquisition program for the second quarter of 2015. It anticipates the new seismic program will add additional drilling targets in the Cambrian Knox remnant formation to those already drilled or outlined in the 2014 seismic program.
We seek Safe Harbor.
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