Oyster – Confirmation of Government Decrees & Operational Update, Madagascar
Suite 918-1030 West Georgia Street
Vancouver, British Columbia Canada V6E 2Y3
Tel. No. (604) 628-5621 ♦ Fax No. (604) 662-7950
Oyster – Confirmation of Government Decrees & Operational Update, Madagascar
Vancouver, British Columbia – November 30, 2017 – Oyster Oil and Gas Ltd.
("Oyster" or the "Company") (OY: TSXV, 13L: FSE) is pleased to announce that the
Presidential Decrees have been signed confirming the appointment of Oyster as Operator
holding a 100% Working Interest in Block 1101 and also the grant of an extension of the
current exploration phase to July 2019.
In addition the Oyster technical team has completed additional geological field work
during the second half of November, collecting samples and further structural
measurements. Potentially high quality Jurassic source rocks were found close to one of
Oyster’s main prospects and will be sent for laboratory analysis. However, a decision has
been made to defer the FTG survey until 2018 due to the impending cyclone season, the
need to integrate the latest field work into the structural models and also to allow for
some further clarification on the permitting for an expanded survey.
Michael Wood, CEO commented: "We are delighted the Presidential Decrees have been
signed. A great deal of progress has been achieved by the team, but the delays in
commencing the FTG survey have caused us to review the timing and scope of the
proposed survey. We expect to re -initiate the survey in 2018 subject to scheduling and
availability of AustinBridgeporth personnel and equipment."
About Oyster Oil and Gas Ltd.
Oyster is an upstream oil and gas company with a focus on Eastern Africa. Oyster holds
production sharing contracts interests with the Government of Djibouti and the
Government of Madagascar. Oyster holds four blocks comprising approximately 3.5
million acres onshore and offshore in Djibouti; and holds a 100% working interest and is
the operat or of an onshore block located in northwest Madagascar covering
approximately 2.8 million acres.
For further information please contact:
Emily Davis, Corporate Secretary
Tel: (604) 628-5616
Fax: (604) 662-7950
2
This news release contains statements abo ut the Company's expectations regarding the completion of the Settlement and the benefits
of the F rankfurt Stock Exchange listing that are forward -looking in nature and, as a result, are subject to certain risks and
uncertainties. Although the Company believes that the expectations reflected in these forward -looking statements are reasonable,
undue reliance should not be placed on t hem as actual results may diff er materially from the forward -looking statements and there
can be no assurance that such expectations will prove to be correct. Factors that could cause the actual results to differ ma terially
from those in forward -looking statements include failure to complete the Settlement for any reason whatsoever, including failure to
obtain TSXV acceptance, or the F rank Stock Exchange listing not providing increased trading liquidity or investment by European
investors. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes
no obligation to update publicly or revise any forward -looking statements or information, whether as a result of new information,
future events or other wise, except as required by applicable securities laws. The forward -looking statements contained in this news
release are expressly qualified by this cautionary statement.
This news release does not constitute and the subject matter hereof is not, an offe r for sale or a solicitation of an offer to buy, in the
United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amend ed (the
"1933 Act")) of any equity or other securities of the Corporation. The securities of the Corporation have not been registered under the
1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an
applicable exemption from the registration requirements of the 1933 Act.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSX V) accepts responsibility for the adequacy or accuracy of this news
release.