Since all of the conditions to the offer have been satisfied, Mirror Lake has taken up and paid for all of the Tanganyika common shares tendered to the offer.
Mirror Lake intends to exercise its statutory rights under the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining Tanganyika common shares that were not deposited to the offer as soon as practicable.
In connection with the offer, the board of directors of Tanganyika has been replaced by nominees of Sinopec International, effective December 19, 2008.
Mirror Lake intends to cause Tanganyika to seek a delisting of its common shares and depositary receipts and to apply to cease to be a reporting issuer and to otherwise terminate its public reporting requirements as soon as possible hereafter.
Tanganyika Oil Company is a Canada-based oil and gas company focused on its properties in Syria. The company holds operating interests in two Syrian production sharing agreements covering the Oudeh Block and the Tishrine and Sheik Mansour Blocks.
