News Column

Astar Minerals Shareholders Approve Change In Name To MX Oil PLC

July 24, 2014

Tom McIvor

LONDON (Alliance News) - Astar Minerals PLC Thursday said shareholders have voted for its proposed name change at its annual general meeting and its name will now change to MX Oil PLC.

The Mexico-focused oil company said it expects the name change to be finalised on Friday.

MX Oil also said it expects new laws, designed to reopen its oil and gas opportunities to private companies, to be finalised in Mexico shortly.

The company said it is currently in the process of securing a local partner in Mexico with which it will jointly evaluate, secure and develop investment opportunities in Mexico, where 10.26 billion barrels of proven oil reserves exist.

Shares closed up 0.7% at 2.9698 pence on Thursday.

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Source: Alliance News

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