source: Trading Markets
Thu. July 02, 2009; Posted: 09:09 AM
CIC Energy Corp. (“CIC Energy” or the “Company”)(TSX:ELC, BSE: CIC Energy) today announced the following update on the Mmamabula Energy Project in Botswana, Africa.
Offtaker Review of Power Purchase Agreement Offer
In conjunction with the ongoing negotiations of the power purchase agreement and related documentation for the Mmamabula Energy Project, CIC Energy, on behalf of its Botswana subsidiary Meepong Energy (Proprietary) Limited, submitted an offer to Eskom Holdings Limited (“Eskom”) and Botswana Power Corporation (“BPC”) in March 2009 (the “Offer”).
The Offer was taken through Eskom’s formal governance process, culminating in consideration of the Offer at an Eskom board meeting held on June 18, 2009. The Company had expected that a response to the Offer would be received from Eskom soon after this board meeting. However, a response to [continue reading]
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