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Sunset Pacific Petroleum Ltd
Symbol SPK
Shares Issued 71,936,936
Close 2017-04-24 C$ 0.015
Market Cap C$ 1,079,054
Recent Sedar Documents

ORIGINAL: Sunset Pacific farms out Tunisia concession

2017-04-24 17:28 ET - News Release

Received by email:

File: SUNSET PACIFIC PETROLEUM LTD - news report - April 24, 2017.doc

  SUNSET PACIFIC PETROLEUM LTD.
                                                #704-938 Howe Street, Vancouver, British Columbia, V6Z 1N9  
                                               Phone: 1-604-369-9113
              TRADING SYMBOL: SPK.V

         April 24, 2017
ON BEHALF OF THE BOARD:

Sunset Pacific Petroleum Ltd. ('Sunset') is pleased to announce that it has signed an agreement to farm out a fifty (5
--->0%) percent working interest in its interest in a hydro-carbon Concession in Tunisia.  

The conditions of the Agreement call for Sunset to receive all governmental approvals in Tunisia necessary to proceed 
--->on a work program on the Concession. 

A SWIFT coded Letter of Credit for the sum of Five Million United States (USD $5,000,000) Dollars will be provided to 
--->the Government of Tunisia.

Pursuant to the Agreement,  the farmee will pay:

 to Sunset the sum of Two Million United States (USD $2,000,000) Dollars in sunk cost on or before thirty (30) days af
--->ter the execution of the Agreement.   

the sum of One Million United States (USD $1,000,000) Dollars toward the administrative and operational costs of the C
--->oncession and 

fifty (50%) percent of any additional cost related to the Concession. 

  This Agreement is subject to regulatory and government approvals where required.  

"Albert Raponi"

_______________________________
Albert Raponi, CEO, of the Company 

     This press release was prepared by management who takes full responsibility for its  contents.  Neither TSX Ventu
--->re   
     Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchang
--->e) 
     accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements.  These statements are based on current expectations and assu
--->mptions that are subject to risks and uncertainties.  Readers should not place undue importance on forward-looking inf
--->ormation and should not rely upon this information as of any other date.  Actual results could differ materially becau
--->se of factors discussed in the Company's management discussion and analysis filed with applicable Canadian securities 
--->regulators, which can be found under the Company's profile on www.sedar.com.  The Company does not assume any obligati
--->on to update any forward-looking statements. 



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