Vast Exploration fka VST

[Tackler]

Vast Exploration to earn 27% interest in Iraqi PSC

2008-06-20 16:49 MT - Property Agreement

The TSX Venture Exchange has accepted for filing documentation pertaining to a production sharing contract (PSC) dated May 14, 2008, between Vast Exploration Inc., Niko Resources Ltd., Groundstar Resources Ltd. and the Kurdistan regional government of Iraq, whereby Vast Exploration can earn a 27-per-cent participating interest in the PSC through the exploration, development and production of petroleum resources in the 846-square-kilometre Qara Dagh block, located in the Sulaymaniya governorate of Kurdistan, Iraq.

Vast Exploration anticipates approximately $10-million will be spent on capital expenditures in 2008.

For further details, please refer to Vast Exploration's news release dated May 20, 2008.