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VANCOUVER, British Columbia, July 23, 2018 (GLOBE NEWSWIRE) -- Stamper Oil & Gas Corp. (TSX-V:STMP) (FSE:TMP2) (OTCQB:STMGF) (“Stamper” or “the Company”) today announces that the Board of Stamper has concluded that the Memorandum of Understanding (“MOU”) between State Oil Corporation (“State”) and Sudapet Company Ltd. (“Sudapet”), the national oil company of Sudan, will not be extended. Mr. Lutfur Khan, Chairman of State, after giving assurances to the Company, could not secure an extension to the MOU with Sudapet.
As a result of these developments, the Board of Stamper has notified State Oil Corporation (“State”) that the Memorandum of Understanding (“MOU”) between Stamper and State has been terminated.
The Company is evaluating other oil and gas projects in North America, Latin America and Africa.
David Greenway, Chief Executive Officer of Stamper Oil & Gas, said, "Though this is a hurdle for the Company, Stamper will continue in its efforts to source oil and gas projects that fit the Company and will keep all investors informed of its progress.” |