In May 2010 the General Annual Meeting of Georex voted the separation of Poros from Georex and the distribution  of shares of Poros to its shareholders. Each shareholder of Georex was assigned 32 shares of Poros per share of Georex. The nominal value of each share is 0.01 euros. This dividend was paid on July 30, 2010.

Poros has completed its program of applications for licensing with 2 permits onshore in Tunisia, 1 permit onshore in France and 6 bids for permits onshore in France. At the current state, Poros will continue its development through the search of investing partners, partnerships with other companies and farm-out operations.

A financing plan has been proposed in 2010 to ensure the continuation of the work as well as the search for partners, so that the contractor selected in Tunisia can commit on a date of commencement of the work and the studies in the Paris Basin could be financed without large transfer of rights to partners.

An evaluation of the assets of the Paris basin was conducted in November 2010 by Gaffney, Cline and Associates for the potential reserves of Champrose and Chevry licences. A contract with Moyes and Co was concluded in April 2011 for the promotion of the projects of Tunisia.

On February 27, 2011 the General meeting rejected the proposed capital increase of 833 €405,12 by issuance of 41 670 256 new shares of €0.02 value rated each (or €0.01 bonus emission and €0.01 nominal value) at a rate of 1 new share for 2 subscription rights.

On March 3, 2011 the General meeting has authorized an increase of capital of €416.702,56 by the issue of 41.670.256 new shares of €0.01 nominal each,, at a rate of 1 new shares for 2 subscription rights. 

 

Contact in France                                                     Contact in Tunisia

Yannis Bassias                                                         Lamine Amraoui
ybassias@poros-sas.com                                        lamraoui@poros-sas.com 
7, Rue de la Libération                                               Immeuble « Les Cygnes »
95880 Enghien Les Bains                                          Rue du Lac Victoria France                                                                       Les Berges du Lac - 1053, Tunis 
                                                                                  Tunisia