Suroco Energy is responding to the June 24, 2014 press release of Vetra Acquisition wherein it gave notice that it has increased the price of its offer to purchase all of the common shares of Suroco to $0.83 in cash per common share. As such, the Board of Directors of the Corporation and the independent special committee of the Board of Directors [...]
Vetra Acquisition, a wholly-owned subsidiary of VETRA Holding, today announced that it has given notice that it has increased the price of its offer to purchase all of the common shares of Suroco Energy to $0.83 in cash per common share. The increased VETRA offer provides certain and full value for Suroco shares, while the Petroamerica Arrangement [...]
Petroamerica Oil is pleased to provide the strategic rationale behind its increased offer to Suroco Energy Inc. to acquire all of the issued and outstanding common shares of Suroco under the terms of a previously announced arrangement agreement, as amended June 19, 2014 and to deliver the Company's vision for the combined business on a go-forward [...]
Suroco Energy announces that further to its joint press release of June 19, 2014 with Petroamerica Oil, Suroco has filed on SEDAR the supplement dated June 22, 2014 to the Management Information Circular and Proxy Statement of Suroco dated May 27, 2014. The Supplement will also be available on the Corporation's website at www.suroco.com. The [...]
Suroco Energy announces that its Board of Directors, has unanimously recommended that Suroco shareholders REJECT the unsolicited cash offer from Vetra Acquisition Ltd., a wholly owned subsidiary of VETRA Holding to acquire the issued and outstanding common shares of Suroco at $0.75 per share in cash. As previously announced, Suroco has entered into [...]
Suroco Energy is pleased to announce that ISS Proxy Advisory Services has published a report recommending their clients vote IN FAVOUR of the previously announced arrangement transaction with Petroamerica Oil, as recently revised for consideration of an increased value equal to $0.80 per common share of Suroco. ISS indicated in its report that it [...]
Vetra Acquisition announced today that a Securities Regulator in Canada has REJECTED an application made by Suroco Energy to allow Alentar Holdings Inc., a related party to Suroco, to vote as part of the minority shareholders in the consideration of the Petroamerica Arrangement. Suroco has taken a number of highly unusual steps to disenfranchise [...]
Vetra Acquisition, a wholly-owned subsidiary of VETRA Holding, today announced that it has given notice that it has increased the price of its offer to purchase all of the common shares of Suroco Energy to $0.75 in cash per common share. While the increased VETRA offer provides certain and full value for Suroco shares, the new Petroamerica [...]
Petroamerica Oil are pleased to announce that, in connection with Petroamerica's offer to acquire all of the issued and outstanding common shares of Suroco for consideration of an increased value equal to $0.80 per Suroco Share, Suroco has decided to waive the currently scheduled proxy cut-off time of 10 a.m. on Monday, June 23, 2014 and accept [...]
Suroco Energy and Petroamerica Oil are pleased to announce that Petroamerica has increased its offer to acquire all of the issued and outstanding common shares of Suroco to a value of $0.80 per Suroco Share. The Revised Petroamerica Offer also entitles holders of Suroco Shares to elect to receive common shares in Petroamerica, a combination of cash [...]
Institutional Shareholder Services, a leading independent proxy advisory firm, today has recommended that shareholders of Suroco Energy Inc. vote AGAINST the Petroamerica Arrangement at Suroco's upcoming annual and special meeting of shareholders to be held on June 25, 2014 at 10:00 a.m. and support the all cash offer made by Vetra Acquisition [...]
Suroco Energy is pleased to announce that the Quinde-7 well has tested at a stable rate of 800 barrels of 18 degree API oil per day by natural flow. Production capability from the well is expected to be increased to approximately 1,500 barrels per day in the near future with the installation of an electric submersible pump. Mr. Alastair Hill [...]
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