Stamper Oil & Gas Stamper Oil & Gas Corp. Corporate Update
(via TheNewswire)
VANCOUVER, Canada / TheNewswire / October 22 2018 - Stamper Oil & Gas Corp. (TSX-V: STMP) (FSE: TMP2) (OTCQB: STMGF) ("Stamper" or "the Company") today announces the Company has made no further progress with State Oil Corporation ("State") on its previously announced Memorandum of Understanding ("MOU") between State and Sudapet Company Ltd. ("Sudapet"), the national oil company of Sudan to acquire an interest in Block 25 in Sudan and the Company announces it has effectively abandoned the project.
The Company is also working hard at this time on reviewing several oil and gas projects and expects to make an announcement in the near future.
The Company would also like to announce a debt for share settlement. Under the terms of the settlement, the company will issue 9,040,000 shares of common stock of Stamper through the conversion of $452,000 worth of debt at $0.05 per share. Of the debt $230,000 is owed to officers of the Company. This debt for share settlement is subject to the approval the TSX.
Further to the news release dated May 10, 2018, Stamper announces the April 27, 2018 issuance of 500,000 stock options exercisable at $0.29 and the May 1, 2018 issuance of 600,000 stock options exercisable at $0.21 to directors, management, and consultants of the Company. All such options have an exercise period of twelve (12) months from the date issued.
About Stamper Oil and Gas
Stamper Oil and Gas Corp. (TSX.V: STMP) is an oil and gas company, engaged in the acquisition, exploration and development of conventional oil and natural gas properties. The Company plans to identify and build out a portfolio of high-impact oil and gas prospects. Stamper is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
For further information on Stamper Oil and Gas please visit www.stamperoilandgas.com
ON BEHALF OF THE BOARD OF DIRECTORS
"David C. Greenway"
President & Director
For further information, please contact:
Stamper Investor Relations
Phone: (604) 684-2401
Email: info@stamperoilandgas.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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Stamper Oil & Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Stamper Oil & Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil & Gas Corp undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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