(MENAFN- ProactiveInvestors)
(ASX:PGY) has been granted an ASX trading halt regarding a material acquisition.
The halt will last until the earlier of the announcement being made or the start of trade on Thursday 3rd September 2015.
Last month the company received a US$3.7 million payment from the State of Alaska in relation to the US$7.8 million 3D seismic program completed in the Western Block North Slope Alaska in early 2014.
It has also received National Offshore Petroleum Titles Administrator approval to vary the work program for its WA-503-P exploration permit offshore Western Australia.
The company now has until 12th May 2017 to complete firm work commitments an extension of two months.
Three oil permits with material prospective resources have been identified with an independent estimate of prospective resources currently being commissioned.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.