Zeg Oil to acquire the remaining stake in Forza Petroleum for $14m.

Zeg Oil, an oil and gas company, agreed to acquire the remaining stake in Forza Petroleum, an oil and gas company, for $14m. "We are pleased to be able to present this win-win transaction to securityholders for their consideration. Notwithstanding the uncertainty and risks the business faces in the Kurdistan Region of Iraq, the offer provides Minority Shareholders the opportunity to divest their position at a significant premium to the current share price, without bank commission and without the challenges of selling into a market for the Common Shares that is thinly traded. The Corporation also stands to benefit by reducing overhead, improving access to capital as a private company, and focusing all its resources towards navigating the continuing uncertainty of operating an oil and gas company in the Kurdistan Region of Iraq. The Board is confident that this transaction represents the best path forward for Forza Petroleum and for its shareholders," Vance Querio, Forza Petroleum Chair of the Board.