Nitinat Minerals Corp., pursuant to an advisory agreement dated April 17, 2013, has retained Jacob Securities Inc. to provide certain financial advisory services. The term of the agreement is for a period of 12 months with the option to terminate the agreement at any time after six months.
“We are excited to be working with Jacob Securities,” stated Herb Brugh, president of the corporation. “As the corporation pursues its various opportunities in Russia and British Columbia, Jacob will be instrumental in the corporation getting it story out into the market. We look forward to a very long and successful relationship with Jacob.”
“We are pleased to be working closely with Nitinat,” stated Sasha Jacob, president of Jacob. “We believe that the corporation, with its opportunities in Russia and British Columbia, is well positioned to attract investors looking for opportunities both in Canada and abroad.”
The corporation would also like to announce that, further to its press release of Nov. 5, 2012, has terminated its agreement with First Canadian Capital Corp. effective Feb. 5, 2013.
]]>Nitinat Minerals Corp. has appointed Robert James Maddigan to the board of directors.
Mr. Maddigan received a bachelor of science, engineering, from the University of Alberta in 1986. He is a professional engineer and has held various positions with private and public companies. From 2000 to 2009, Mr. Maddigan was the owner and chief executive officer of FSC International, a private company that was engaged in the design, build and construction of various projects in Russia with a total value of $450-million. Mr. Maddigan was the president and CEO of Taman Petroleum, the corporation’s wholly owned subsidiary with oil and gas interests in Russia. Mr. Maddigan has and continues to serve as a director, officer and/or consultant to various public junior mining companies.
]]>Nitinat Minerals Corporation
70 York Street, Suite 1710 Toronto ON M5H 1S9
February 5, 2013 TSX Venture – NZZ
Toronto, Ontario – Nitinat Minerals Corporation (“Nitinat” or the “Company”) would like to announce that it intends to raise gross proceeds of up to $3 million through a non-brokered private placement of up to 10 million units (the “Units”) of the Company at a price of $0.30 per Unit. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one common share at a price of $0.40 for a period of two (2) years from date of issuance. A finder’s fee may be paid by the Company in connection with the private placement.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
Nitinat intends to use the net proceeds to (i) increase its ownership in Techniton LLC to 18% through its wholly owned subsidiary, Taman Petroleum Corporation (“Taman”) (ii) to fund its ongoing exploration work on its Jasper Property and (iii) for general working capital.
Techniton LLC (“Techniton”) is a Russian private company which owns 100% of the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwestRussia(the “Project”).
For the purpose of providing information relating to the Temryuk Oil & Gas Exploration-Exploitation Licence, the CORPORATION is relying on HISTORICAL information. All information pertaining to the Temryuk Oil & Gas Exploration-Exploitation Licence was derived from historical geological reports and HAS not been verified.
About the Project South Temryuk Oil & Gas Exploration-Exploitation Licence
The Project is situated four kilometres south of the community of Temryuk (Krasnodar KraiRussia), located between the Black Sea and theSea of Azov. The Azov-Kuban petroleum basin region is a mature oil and gas producing region with ready access to both pipelines and ocean tankers. TheSouth Temryuklicense is sandwiched between two mature producing oilfields, the Kurchanskoye and the Strelchanskoye; controlled by the major petroleum company Rosneft. Reports indicate that estimated historical production from Kurchanskoye is 80 million barrels (mmb) of oil and 170 billion cubic feet (bcf) of natural gas, while Strelchanskoye production estimates are 30 mmb oil and 30 bcf natural gas.
In March 2008, well ‘ST-1′ was drilled on the Project to a depth of 3,840 metres, targeting priority geophysical anomalies which are the projected equivalents to regional production horizons. The well confirmed the presence of the main Sarmat oil horizon and also discovered the deeper Chokrak gas condensate horizon. Proposed near term work will re-evaluate well ST-1. Additionally, the Project has a number of other untested geological-geophysical targets which offer future exploration targets.
Azov-Kuban Petroleum Basin
TheAzov-KubanPetroleumBasinencompasses about 161,000 square kilometers northeast of the Black Sea, in both southeastUkraineand southwestRussia. In June 2011, the U.S. Geological Survey, using a geology-based assessment methodology, estimated mean volumes of technically recoverable, conventional, undiscovered petroleum resources at 218 million barrels of crude oil, 4.1 trillion cubic feet of natural gas, and 94 million barrels of natural gas liquids for theAzov-KubanBasin(USGS Fact Sheet 2011-3052). Note that this estimate is for the basin as a whole and does not address the economic recoverability of these estimated resources.
For further information, please contact Jessica Chandler, Business Development Officer of the Corporation, at 416.216.0964
For Investor Relations call:
| Jason Monaco First Canadian Capital Corp. Tel: 416.742.5600 / 1.866.580.8891 jmonaco@firstcanadiancapital.com |
Mark van der Horst President, Gale Capital Corporation Ph. 604.200.1481 Fax 604.200.1484 mark@galecapital.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
]]>November 12, 2012 TSX Venture – NZZ
Toronto, Ontario – Further to its press release of July 3, August 22 and October 15, 2012, Nitinat Minerals Corporation (“Nitinat”) is pleased to announce that it has acquired all of the issued and outstanding securities of Taman Petroleum Corporation (“Taman”).
Taman is a private Alberta Canada company whose assets include:
(i) an 8% ownership interest in the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwest Russia (the “Project”); and
(ii) a USD $6.2 million receivable (the “Receivable”) from Techniton LLC (“Techniton”).
Taman owns its interest in the Project through its 8% interest in Techniton, a Russian private company, which owns 100% of the Project; covering an estimated 4,000 hectares. Taman, via its interest in Techniton, has a formal participation, option and purchase agreement to govern the option and rights to revenues from the production from the Project. Taman has a right to earn an additional 20% of the Project by purchasing an additional 20% equity interest in Techniton for an aggregate purchase price of $2 million or $1 million for each 10% allotment. To date, Taman has paid an aggregate of $250,000 to Techniton for the purchase of the first additional 10% equity interest in Techniton. The Receivable will be repaid from the revenues from the production from the Project.
At a special meeting of Taman shareholders’ held on November 6, 2012, Taman received shareholder approval for the amalgamation agreement dated August 21, 2012 (the Amalgamation Agreement”). Pursuant to the terms of the Amalgamation Agreement, the Corporation’s wholly owned subsidiary, 1695211 Alberta Ltd. and Taman amalgamated and formed a new company (“Amalco”). The Corporation acquired all of the shares of Amalco it did not own from the shareholders of Taman in exchange for the issuance of 10 million shares in the capital of the Corporation at a deemed price of $0.15 per share. As a result of the three corned amalgamation, Taman is a wholly-owned subsidiary of the Corporation.
FOR THE PURPOSE OF PROVIDING INFORMATION RELATING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE, THE CORPORATION IS RELYING ON HISTORICAL INFORMATION. ALL INFORMATION PERTAINING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE WAS DERIVED FROM HISTORICAL GEOLOGICAL REPORTS AND HAS NOT BEEN VERIFIED.
About the Project South Temryuk Oil & Gas Exploration-Exploitation Licence
The Project is situated four kilometres south of the community of Temryuk (Krasnodar Krai Russia), located between the Black Sea and the Sea of Azov. The Azov-Kuban petroleum basin region is a mature oil and gas producing region with ready access to both pipelines and ocean tankers. The South Temryuk license is sandwiched between two mature producing oilfields, the Kurchanskoye and the Strelchanskoye; controlled by the major petroleum company Rosneft. Reports indicate that estimated historical production from Kurchanskoye is 80 million barrels (mmb) of oil and 170 billion cubic feet (bcf) of natural gas, while Strelchanskoye production estimates are 30 mmb oil and 30 bcf natural gas.
In March 2008, well ‘ST-1′ was drilled on the Project to a depth of 3,840 metres, targeting priority geophysical anomalies which are the projected equivalents to regional production horizons. The well confirmed the presence of the main Sarmat oil horizon and also discovered the deeper Chokrak gas condensate horizon. Proposed near term work will re-evaluate well ST-1. Additionally, the Project has a number of other untested geological-geophysical targets which offer future exploration targets.
Azov-Kuban Petroleum Basin
The Azov-Kuban Petroleum Basin encompasses about 161,000 square kilometers northeast of the Black Sea, in both southeast Ukraine and southwest Russia. In June 2011, the U.S. Geological Survey, using a geology-based assessment methodology, estimated mean volumes of technically recoverable, conventional, undiscovered petroleum resources at 218 million barrels of crude oil, 4.1 trillion cubic feet of natural gas, and 94 million barrels of natural gas liquids for the Azov-Kuban Basin (USGS Fact Sheet 2011-3052). Note that this estimate is for the basin as a whole and does not address the economic recoverability of these estimated resources.
For further information, please contact Herb Brugh, director of the Corporation, at 416.216.0964
www.nitinatminerals.com
For Investor Relations call:
Jason Monaco
First Canadian Capital Corp.
Tel: 416.742.5600 / 1.866.580.8891
jmonaco@firstcanadiancapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
]]>The agreement between the Corporation and FCCC (the “IR Agreement”) is for an one year period (with a right of termination by either party after three (3) months) and will pay FCCC a monthly fee of $6,000 for an aggregate consideration of $72,000. In addition, the Corporation will also issue, as compensation, options to acquire 300,000 common shares at an exercise price of $0.30 with an expiry date 12 months from the date of this release. The options granted will vest in accordance with applicable regulations. The IR Agreement and the issuance of the stock options remain subject to the approval of the TSX Venture Exchange.
Jason Monaco, Partner at FCCC commented, “We are excited to work with such a credible team which has great vision and is able to recognize lucrative opportunities at the right time and bringing the Corporation’s story, its Jasper Property and its acquisition of Taman Petroleum Corporation, to FCCC’s network.”
Herb Brugh, President of the Corporation commented, “We are pleased to retain First Canadian, an IR firm with a very successful track record in providing investor relations services to emerging small-cap and mid-tier companies in Canada. We look forward to having our story better articulated to a wider audience, in order to increase awareness and exposure to financial markets. First Canadian was chosen based on their professional standards and track record of successfully assisting other resource companies with effective investor relation plans and strategies.”
About First Canadian Capital Corp. (www.firstcanadiancapital.com)
Based in Toronto and in the investor relations business for thirteen years, First Canadian Capital Corp. has assisted numerous North American corporations in gaining exposure and recognition within the global investment community and specializing in providing investor relations services to emerging small-cap and mid-tier companies. FCCC’s core competencies are found in identifying quality assets and undervalued companies with high growth potential and providing effective investor relations and market awareness services to these companies. FCCC is proud to have had two clients win the PDAC Prospector of the Year Award.
About Nitinat Minerals Corporation
The Corporation is a publicly traded junior exploration company which owns an 100% interest in the Jasper Property located on Vancouver Island, British Columbia. Further to its press release of October 15, 2012, the Corporation received approval from the TSX Venture Exchange for its acquisition of all of the issued and outstanding securities in the capital of Taman Petroleum Corporation (“Taman”). For complete details regarding the acquisition of Taman, please refer to Nitinat’s earlier press releases. Taman has scheduled a special meeting of its shareholders on November 6, 2012 to approve the proposed acquisition by the Corporation.
FOR THE PURPOSE OF PROVIDING INFORMATION RELATING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE, THE CORPORATION IS RELYING ON HISTORICAL INFORMATION. ALL INFORMATION PERTAINING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE WAS DERIVED FROM HISTORICAL GEOLOGICAL REPORTS AND HAS NOT BEEN VERIFIED.
About Taman
Taman, a private Alberta Canada company, owns 8% of the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwest Russia (the “Project”). Taman owns its interest in the Project through its 8% interest in Techniton LLC, a Russian private company, which owns 100% of the Project; covering an estimated 4,000 hectares. Taman, via its interest in Techniton has a formal participation, option and purchase agreement to govern the option and rights to revenues from the production from the Project. Taman has a right to earn an additional 20% of the Project by purchasing an additional 20% equity interest in Techniton for an aggregate purchase price of $2 million or $1 million for each 10% allotment. To date, Taman has paid an aggregate of $250,000 to Techniton for the purchase of the first additional 10% equity interest in Techniton.
The Project is situated four kilometres south of the community of Temryuk (Krasnodar Krai Russia), located between the Black Sea and the Sea of Azov. The Azov-Kuban petroleum basin region is a mature oil and gas producing region with ready access to both pipelines and ocean tankers. The South Temryuk license is sandwiched between two mature producing oilfields, the Kurchanskoye and the Strelchanskoye; controlled by the major petroleum company Rosneft. Reports indicate that estimated historical production from Kurchanskoye is 80 million barrels (mmb) of oil and 170 billion cubic feet (bcf) of natural gas, while Strelchanskoye production estimates are 30 mmb oil and 30 bcf natural gas.
In March 2008, well ‘ST-1′ was drilled on the Project to a depth of 3,840 metres, targeting priority geophysical anomalies which are the projected equivalents to regional production horizons. The well confirmed the presence of the main Sarmat oil horizon and also discovered the deeper Chokrak gas condensate horizon. Proposed near term work will re-evaluate well ST-1. Additionally, the Project has a number of other untested geological-geophysical targets which offer future exploration targets.
Azov-Kuban Petroleum Basin
The Azov-Kuban Petroleum Basin encompasses about 161,000 square kilometers northeast of the Black Sea, in both southeast Ukraine and southwest Russia. In June 2011, the U.S. Geological Survey, using a geology-based assessment methodology, estimated mean volumes of technically recoverable, conventional, undiscovered petroleum resources at 218 million barrels of crude oil, 4.1 trillion cubic feet of natural gas, and 94 million barrels of natural gas liquids for the Azov-Kuban Basin (USGS Fact Sheet 2011-3052). Note that this estimate is for the basin as a whole and does not address the economic recoverability of these estimated resources.
In addition, the Corporation would like to also announce it has granted 100,000 stock options to a consultant. Each option is exercisable at $0.30 per common share at any time until November 5, 2017.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Nitinat Minerals Corporation
Herb Brugh
Director
416.216.0964
www.nitinatminerals.com
For Investor Relations call:
First Canadian Capital Corp.
Jason Monaco
416.742.5600 / 1.866.580.8891
jmonaco@firstcanadiancapital.com
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Nitinat Minerals Corporation
Herb Brugh
Director of the Corporation
416.842.9000
www.nitinatminerals.com
In order to complete the acquisition, Taman will be calling a special meeting of shareholders to approve the transaction. It is expected that the special meeting of Taman shareholders shall occur on or before October 26, 2012. The closing of the acquisition will occur shortly after the shareholders’ meeting provided that Taman receives the requisite approval from its shareholders.
FOR THE PURPOSE OF PROVIDING INFORMATION RELATING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE, THE CORPORATION IS RELYING ON HISTORICAL INFORMATION. ALL INFORMATION PERTAINING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE WAS DERIVED FROM HISTORICAL GEOLOGICAL REPORTS AND HAS NOT BEEN VERIFIED.
About Taman
Taman, a private Alberta Canada company, owns 8% of the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban petroleum region of southwest Russia (the “Project”). Taman owns its interest in the Project through its 8% interest in Techniton LLC, a Russian private company, which owns 100% of the Project; covering an estimated 4,000 hectares. Taman, via its interest in Techniton has a formal participation, option and purchase agreement to govern the option and rights to revenues from the production from the Project. Taman has a right to earn an additional 20% of the Project by purchasing an additional 20% equity interest in Techniton for an aggregate purchase price of $2 million or $1 million for each 10% allotment. To date, Taman has paid an aggregate of $250,000 to Techniton for the purchase of the first additional 10% equity interest in Techniton.
The Project is situated four kilometres south of the community of Temryuk (Krasnodar Krai Russia), located between the Black Sea and the Sea of Azov. The Azov-Kuban petroleum basin region is a mature oil and gas producing region with ready access to both pipelines and ocean tankers. The South Temryuk license is sandwiched between two mature producing oilfields, the Kurchanskoye and the Strelchanskoye; controlled by the major petroleum company Rosneft. Reports indicate that estimated historical production from Kurchanskoye is 80 million barrels (mmb) of oil and 170 billion cubic feet (bcf) of natural gas, while Strelchanskoye production estimates are 30 mmb oil and 30 bcf natural gas.
In March 2008, well ‘ST-1′ was drilled on the Project to a depth of 3,840 metres, targeting priority geophysical anomalies which are the projected equivalents to regional production horizons. The well confirmed the presence of the main Sarmat oil horizon and also discovered the deeper Chokrak gas condensate horizon. Proposed near term work will re-evaluate well ST-1. Additionally, the Project has a number of other untested geological-geophysical targets which offer future exploration targets.
Azov-Kuban Petroleum Basin
The Azov-Kuban Petroleum Basin encompasses about 161,000 square kilometers northeast of the Black Sea, in both southeast Ukraine and southwest Russia. In June 2011, the U.S. Geological Survey, using a geology-based assessment methodology, estimated mean volumes of technically recoverable, conventional, undiscovered petroleum resources at 218 million barrels of crude oil, 4.1 trillion cubic feet of natural gas, and 94 million barrels of natural gas liquids for the Azov-Kuban Basin (USGS Fact Sheet 2011-3052). Note that this estimate is for the basin as a whole and does not address the economic recoverability of these estimated resources.
For further information, please contact Herb Brugh, director of the Corporation, at 416.216.0964 www.nitinatminerals.com
For Investor Relations call:
Mark van der Horst
President, Gale Capital Corporation
Ph. 604.200.1481
Fax 604.200.1484
mark@galecapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
The Transaction is intended to be a three-cornered amalgamation among Nitinat, Taman and Subco, whereby Taman and Subco will amalgamate and the shareholders of Taman will receive 10,000,000 common shares in the capital of the Nitinat at a deemed price of $0.15 per share. The amalgamated
company will be Nitinat’s wholly-owned subsidiary and will carry on the business of Taman.
Closing of the Transaction is subject to requisite shareholder and regulatory approval, including the approval of the TSX Venture Exchange (the “TSX.V”), successful completion of due diligence on the part of the Nitinat and standard closing conditions. Reference is made to the Corporation’s press release dated July 3, 2012 for additional details relating to Taman and the Transaction.
FOR THE PURPOSE OF PROVIDING INFORMATION RELATING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE, THE CORPORATION IS
RELYING ON HISTORICAL INFORMATION. ALL INFORMATION PERTAINING TO THE TEMRYUK OIL & GAS EXPLORATION-EXPLOITATION LICENCE WAS DERIVED
FROM HISTORICAL GEOLOGICAL REPORTS AND HAVE NOT BEEN VERIFIED.
About Taman
Taman, a private Alberta Canada company, owns 8% of the South Temryuk Oil & Gas Exploration-Exploitation Licence located in the mature Azov-Kuban Petroleum region of southwest Russia (the “Project”). Taman owns its interest in the Project through its 8% interest in Technoton LLC, a Russian
private company, which owns 100% of the Project; covering an estimated 4,000 hectares. Taman, via its interest in Technoton, has a formal participation, option and purchase agreement to govern the option and rights to revenues from the production from the Project. Taman has a right to earn an additional 20% of the Project by purchasing an additional 20% equity interest in Technoton for an aggregate purchase price of $2 million or $1 million for each 10% allotment. To date, Taman has paid an aggregate of $250,000 to Technoton for the purchase of the first additional 10% equity interest in Technoton.
The Project is situated four kilometres south of the community of Temryuk (Krasnodar Krai Russia), located between the Black Sea and the Sea of Azov. The Azov-Kuban petroleum basin region is a mature oil and gas producing region with ready access to both pipelines and ocean tankers. The South
Temryuk license is sandwiched between two mature producing oilfields, the Kurchanskoye and the Strelchanskoye; controlled by the major petroleum company Rosneft. Reports indicate that estimated historical production from Kurchanskoye is 80 million barrels (mmb) of oil and 170 billion cubic feet
(bcf) of natural gas, while Strelchanskoye production estimates are 30 mmb oil and 30 bcf natural gas.
In March 2008, well ‘ST-1′ was drilled on the Project to a depth of 3,840 metres, targeting priority geophysical anomalies which are the projected equivalents to regional production horizons. The well confirmed the presence of the main Sarmat oil horizon and also discovered the deeper Chokrak gas
condensate horizon. Both technical and financial difficulties were encountered shortly after the completion of the well. Poor operating and testing practises used on well ST-1 at the time resulted in an inconclusive production assessment. Therefore, proposed near term work would re-evaluate well ST-1 using modern equipment and methods to better assess the economic viability of the hole. Additionally, the Project has a number of other untested geological-geophysical targets which offer future exploration targets.
Azov-Kuban Petroleum Basin
The Azov-Kuban Petroleum Basin encompasses about 161,000 square kilometers northeast of the Black Sea, in both southeast Ukraine and southwest Russia. In June 2011, the U.S. Geological Survey, using a geology-based assessment methodology, estimated mean volumes of technically recoverable,
conventional, undiscovered petroleum resources at 218 million barrels of crude oil, 4.1 trillion cubic feet of natural gas, and 94 million barrels of natural gas liquids for the Azov-Kuban Basin (USGS Fact Sheet 2011-3052). Note that this estimate is for the basin as a whole and does not address the economic recoverability of these estimated resources.
For further information, please contact Victor Cantore, director of the Corporation, at 514.831.3809 www.nitinatminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
]]>Mr. Brugh received a Bachelor of Arts from the University of Nebraska in 1961 with a major in Economics and Law. He then received a Doctor of Jurisprudence from the University of Nebraska in 1963. He is a member of the Nebraska State Bar Association and admitted to practice before the Federal and State Courts there. He has also done post-graduate studies in Economics and earlier did extensive work in that field. From 1963 to 1983, he was a
member of the firm of Barney & Carter in Lincoln, Nebraska, with extensive experience in legislation, litigation, corporate and business law. From 1983 through 1985, he was Senior Vice President of Resources International, with extensive work in mergers and acquisitions. Since then until the present, Mr. Brugh has been engaged in corporate and securities work, participating in numerous early stage companies in North America and Western
Europe.
For further information, please contact Victor Cantore, director of the Corporation, at 514.831.3809 www.nitinatminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
]]>The Corporation will also like to announce that it that it has negotiated a share for debt settlement with an arm’s length creditor of the Corporation. The Corporation has agreed to issue an aggregate of 50,000 common shares to an arm’s length party in exchange for the cancellation of $5,000 in debt owing to the creditor. The common shares are being issued at a deemed price of $0.12 per common share.
The debt settlement is subject to the approval of the TSX Venture Exchange.
Further to its press release of July 3, 2012, the Corporation wishes to correct certain information contained therein. The date of the letter of intent should have read July 2, 2012 instead of June 18, 2012 as stated in the press release. All other information in the press release remains unchanged.
For further information, please contact Victor Cantore, director of the Corporation, at 514.831.3809 www.nitinatminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This update contains “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
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