Oracle Energy fka OCL

[Tackler]

Oracle Energy to acquire another 8% in Yemen property

2005-10-12 16:59 ET - Property Agreement

The TSX Venture Exchange has accepted for filing documentation an option agreement dated Sept. 14, 2005, between Oracle Energy Corp. and Yemen Mayfair Petroleum Corp., pursuant to which the company may acquire an additional 8-per-cent interest in Exploration Block 22, an oil and gas property located in Republic of Yemen. In consideration, the company will issue 200,000 shares and pay $560,000 (U.S.) by Oct. 15, 2005, and assume 8 per cent of past exploration costs equalling $1,449,696 (U.S.).