Mercom Oil Sands Plc (Mercom) and Norwegian Oil Sands (Norwegian) have
entered into an agreement that provides Mercom with a further 90 day
period to complete the Sale and Purchase Agreement entered into February
15th 2012, and amended by Amendment #1 dated March 14, 2012 (the «SPA»).
The new final date for completion is October 31st 2012.
Norwegian is aiming for a startup of the preparatory part of the program
Q4 2012 with the field operations to commence Q2 2013.