Condor Petroleum Inc. has entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets. The acquisition will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta).

Pursuant to the Arrangement Agreement, all of the issued and outstanding common shares of Marsa will be exchanged for common shares of Condor based on an exchange ratio of 1.84326 Condor Shares for each Marsa Share held.

Tags: Condor Petroleum Inc., Marsa Energy Inc.