from the 2/5/08 NR can anyone explain what may have happened to AMQUE ...what timing......and who is this new land lease holder.Molopo Austrailan Ltd..no mention of them and there 1.8 m acres?
FEB 5, 2008 - 09:22 ET - QUEBEC CITY, QUEBEC--(Marketwire - Feb. 5, 2008) - Junex Inc. (TSX VENTURE:JNX) announced today the signature of an agreement in order to terminate its Exploration Partnership with AMQUE U.L.C., which means that Junex is getting back 100% interest in 5 different blocks of permits located in the St. Lawrence Lowlands. These permits, for which the main geological targets are the Utica Shales and the Trenton/Black-River, are spanning over an area of more than 700,000 acres.
Junex and AMQUE U.L.C. had contracted the Exploration Partnership in July 2006. Since AMQUE U.L.C. failed to meet its minimum investment commitment, the parties terminated the Joint Venture and, in the context of this Termination agreement, Junex has received a financial compensation from AMQUE. Junex also kept an Overriding Royalties Interest of 1.5% in 1.8 million acres of land previously held by AMQUE and recently sold to Molopo Australia Limited.
