Durham increases voting interest in Oakwood Petroleum

The board of directors of Durham Resources has agreed to acquire approximately an additional 30% voting interest in Oakwood Petroleums for the issuance of 8,310,676 Durham shares. This will increase Durham’s voting interest in Oakwood to about 40%.

Durham has also sold, by way of a private placement 3,614,286 Durham shares for a consideration valued at $2.7 million.

These transactions remain subject to the completion of definitive documentation and to regulatory approval.