Affidavit: Mike Coolen -Canadian Superior intends to take over Challenger's 25%

Sonde Resources Corp

Exploration and production of oil and natural gas.

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Road_Warrior

Rank: President [?]

Points: 3725 [?]

Votes: 34 Score: 3.7 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Affidavit: Mike Coolen -Canadian Superior intends to take over Challenger's 25%

posted on Mar 11, 2009 05:14PM

In the following affadavit by Mike Coolen dated March 4th 2009:

http://relieffromdebt.ca/documents/c... on

page 22 item 69 Mike Coolen stated: "That I have been advised and do verily believe that CNE has recently engaged the services of Peters and Co. Limited for the purpose of selling its purported interest in the Trinidad Block 5(c) assets. Due to CNE's defaults under the Participation Agreement and the Credit Facility, CSEI is entitled to seize and sell CNE's interest in Block 5(c) and intends to do so. If CSEI is not able to seize and sell CNE's interest in Block 5(c) it is nevertheless the case that CNE's interest's in Block 5(c) are held by the Company, so if CNE is successful in their sale those proceeds will become available to the Company to reduce the debts owed to it by CNE under the Participation Agreement and the Credit Facility agreement".