Cygam Energy Provides Clarification Regarding Offshore Licencing in Italy
September 10 2013 - 3:30PM
Marketwired Canada
CYGAM Energy Inc. ("CYGAM") (TSX VENTURE:CYG) is pleased to provide
clarification regarding the Ministerial Decree dated August 9, 2013 in which the
areas available to new offshore exploration and production activities in Italian
waters have been revised resulting in a reduction of total area from 255,000 km2
to 139,000 km2.
These latest changes do not apply to existing shallow water exploration and
production projects which remain permitted under Legislative Decree DL83/2012.
Consequently, they do not affect CYGAM's Adriatic licence B.R268.RG which
contains the Elsa oil discovery.
Further details and maps are available at the Italian Ministry of Economic
Development website:
http://unmig.sviluppoeconomico.gov.it/unmig/info/avvisi/avviso55.asp.
About CYGAM Energy Inc.
CYGAM is a Calgary based exploration company with extensive international
exploration permits and a producing property in Tunisia. The main focus of CYGAM
is the acquisition, exploration and development of international oil and gas
permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM
currently holds various interests in seven exploratory permits in Italy plus
three exploratory permits and the BBT Production Concession in Tunisia which
together encompass a total of approximately 2.6 million gross acres.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
CYGAM Energy Inc
David Taylor
President and Chief Executive Officer
david.taylor@cygamenergy.com
CYGAM Energy Inc
Al Robertson
Chief Financial Officer
al.robertson@cygamenergy.com
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