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Last C$0.51 CAD
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As of 5:00 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

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petra petroleum inc (PTL) Details

Petra Petroleum Inc. is engaged in the evaluation, acquisition, exploration, and development of oil and gas properties primarily in Mediterranean, north Africa, and the Middle East regions. The company was formerly known as Fortress Petroleum Inc. and changed its name to Petra Petroleum Inc. in August 2008. Petra Petroleum Inc. is based in Vancouver, Canada.

Founded in 1988

petra petroleum inc (PTL) Top Compensated Officers

Chief Executive Officer, President and Direct...
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Vice President of Exploration and Operations
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Corporate Secretary
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Compensation as of Fiscal Year 2014.

petra petroleum inc (PTL) Key Developments

Petra Petroleum Inc. Announces Completion of Bridge Loan Financing

Petra Petroleum Inc. announced that, in connection with the previously announced proposed business combination of Petra and Mitra Energy Limited to be effected by way of a scheme of arrangement in accordance with the laws of Bermuda, Petra has closed the bridge loan to Mitra in the principal amount of USD 5,000,000, the proceeds of which will be used to explore and develop Mitra's assets. The Bridge Loan was made pursuant to a subscription for USD 5,000,000 of senior unsecured convertible bonds maturing on May 10, 2015 pursuant to Mitra's existing USD 50 million convertible bond instrument, as amended. Prior to the issuance of the Bridge Bonds, unsecured convertible bonds in the principal amount of USD 40.9 million had been issued under the Bond Instrument. The Bridge Bonds rank pari passu with the Original Bonds. Mitra has covenanted not to incur additional debt which could take priority or rank equally to the Bridge Bonds and the Original Bonds other than certain limited permitted indebtedness under the Bond Instrument that shall rank either pari passu with or be subordinated in priority to the Bridge Bonds and the Original Bonds.

Petra Petroleum Inc. Presents at The 9th annual North Africa Oil & Gas Summit, Dec-07-2014

Petra Petroleum Inc. Presents at The 9th annual North Africa Oil & Gas Summit, Dec-07-2014 . Venue: Sheraton Club Des Pins Resort, Algiers, Algeria. Speakers: Robert Alexander Lambert, Chief Executive Officer, President and Director.

Petra Petroleum Inc. Signs Lease Agreement with Greek Government for Ioannina Block

Petra Petroleum Inc. announced that the Greek Government signed a Lease Agreement for the Ioannina block with the consortium of Petra Petroleum and Energean Oil & Gas. Ioannina is an onshore block, located in Epirus, North Western Greece, covering an area of 4,187 square kilometers. The area has analogues of proven and producing oil fields in Albania, Italy and the wider region of the Adriatic Sea, leading Energean and Petra to estimate that up to 100 million barrels of oil or 2 trillion cubic feet of natural gas could potentially be discovered. The investment programme for the planned three exploration phases over 7 years, will consist of 2D seismic data reprocessing, geological surveys, new seismic data acquisition in the 1st phase and the drilling of two wells during phases 2 and 3. The consortium consists of Petra Petroleum (20% working interest) and Energean (80% working interest and Operator). The lease agreement is subject to Greek Parliament ratification.


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