Essex Oil Ltd.

November 08, 2010 13:27 ET

Essex Receives Demand for Repayment of Loan

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) - ESSEX OIL LTD. ("Essex" or the "Company") announces that it has received a demand for repayment of a loan of $125,000 plus accrued interest of $32,272 and a Notice of Intention to Enforce Security pursuant to the Bankruptcy and Insolvency Act (Canada) from Randsburg International Gold Corp. ("Randsburg"). The Company is currently reviewing its options with legal counsel. 

Randsburg is a shareholder of Essex and Michael Opara, President, Chief Executive Officer and a director of Randsburg is the President and a director of Essex.

Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such "forward-looking statements" are not guarantees of future performance and that actual developments or results may vary materially from those in such "forward-looking statements".

Contact Information

  • Essex Oil Ltd.
    William Miertschin
    Chief Executive Officer
    (972) 386-7700
    or
    Essex Oil Ltd.
    Miles Nagamatsu
    Chief Financial Officer
    (416) 360-8006