Business Acquisition


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CNSX:SOL
07/10/2014 [ACCESSWIRE]

Vancouver, BC / ACCESSWIRE / July 10 2014 / Sunoil Ltd. ("Sunoil" or "Company") announces that the Company has closed a business acquisition with the purchase of 100% shares of Sun Oil Fund Ltd ("Sun Oil") on July 7th 2014. The Company paid $4 million Canadian dollars to the shareholders of Sun Oil Fund Ltd.

Sun Oil Fund Ltd., incorporated pursuant to the laws of British Columbia, owns multiple interests in a producing oil and natural gas properties, known as "Paradise" (the "Property") near Fort St John, British Columbia. The Property covers more than 20 sections of land and is currently producing approximately 70 BOE/Day from a number of oil and gas wells.

After closing, Sun Oil Fund Ltd becomes a solely owned subsidiary of Sunoil Ltd. Sun Oil will remain the operator for the Paradise Property.

Sunoil Ltd. is a producing oil & gas company with its headquarters in Vancouver, Canada and a field office in Montana, USA. The company develops its own properties and continues to seek and make acquisitions, in USA and Canada. For further information please contact (604) 662-7833 or info@sunoilgroup.com.

Sunoil Ltd.

"Kevin Sun"

Kevin Sun

CEO & President

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