New Sage Energy Corp.
TSX VENTURE : NSG

New Sage Energy Corp.

November 14, 2007 10:45 ET

New Sage Energy Corp. Completes Joint Venture Agreement

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2007) - New Sage Energy Corp. (TSX VENTURE:NSG) has finalized the terms of a joint venture agreement with Americas Petrogas Inc. ("API"). API is a private company focused on business opportunities in underdeveloped hydrocarbon basins in South America.

Under the terms of the joint venture agreement, New Sage has the right and option to farm into a maximum of 10% of API's interest in each of its Totoral, Yerba Buena and Bajada Colorado joint venture properties, all of which are located in the Neuquen Basin, Argentina. Additionally, New Sage has purchased 3,600,000 common shares and 1,800,000 warrants of API for a total price of US$1,800,000 as consideration for API granting the rights and options under the joint venture agreement to New Sage. New Sage has until December 15, 2007 to exercise its exclusive rights and options under the joint venture.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • New Sage Energy Corp.
    John Carlesso
    President and CEO
    (416) 755-7555
    (416) 366-7596 (FAX)