Petra Petroleum Inc.
TSX VENTURE : PTL

Petra Petroleum Inc.

December 18, 2014 09:00 ET

Petra Petroleum Inc. Announces Assignment of Its 20% Interest in Ioannina Lease in Greece

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 18, 2014) -

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Petra Petroleum Inc. (the "Corporation" or "Petra") (TSX VENTURE:PTL) wishes to announce that it has signed a Sale and Purchase Agreement with Energean Oil & Gas SA for the assignment of the Corporation's 20% interest in the onshore Ioannina Lease in north-western Greece. The closing of the transaction is subject to the approval of the Greek authorities. The transaction has been undertaken as part of the re-focusing of the Corporation's activities following its recently announced Plan of Arrangement with Mitra Energy Ltd.

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.

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