Against the context of continued, and in some areas accelerating COVID impact, Remus Horizons, the petroleum fund of Remus Corporation, provides the following corporate updates.

Pending Opportunities

Remus is disappointed in advice received from Gran Tierra Energy purporting to terminate its previously disclosed agreement to sell 218,012,500 shares of PetroTal Corp. to Remus.

Remus confirms that it has sourced funding for two of its priority transactions:

• the offer, to Gran Tierra, for 218,012,500 common shares in PetroTal;
• the indicative proposal to acquire 100% of the shares of FAR Limited.

Final regulatory approvals and the subsequent onboarding of the investor capital has been subject to considerable delay; as a result of several factors, including COVID-related restrictions slowing business operations in many jurisdictions. 

Remus remains fully committed to completing the PetroTal and FAR transactions and is confident that the delays in regulatory approvals will be overcome.

Remus is also actively progressing other transaction opportunities and has sourced funds to execute those in 2021.

Personnel Additions

Remus is pleased to also report that it has expanded its senior team with new appointments including a CFO, COO and CTO, plus heads of HSSE, Corporate Affairs and Communications.

Mr. Kanagarajah continues: 
"I am immensely proud that, during this COVID constrained period, we have managed not only to attract world class investors and deal-flow, but also a deeply experienced team of technical, commercial and communications professionals. Our team of nearly 50 now totals: more than 500 'person years' of E&P experience; across 20 countries on four continents; with responsibility for at least US$ 100 billion of assets; extracting well over 500 million barrels of oil equivalent. It is especially gratifying to see this breadth and depth of expertise being acknowledged in the media."

KeyFacts Energy Industry Directory: Remus Petroleum