Ann: Restructure of Guatemalan Oil Projects Equity Interest, page-2

Here it is.... LOL they are offering to throw more cash at LAR!! what clowns
Judging by the $1M for the 5% the farm in may have a value of $20Mil on paper...way undervalued
You can bet you left nut that the last clause happens.
I hope they take into consideration the value of Atzam 5 here because I certainly am.
Anyway ...tyres it is!




Citation Agrees Project Restructuring To Retain 10% Interest in Latin American Resources (LAR)
Citation Resources Limited (ASX:CTR) (“CTR” or the “Company”) is pleased to announce that it has reached an in principle agreement with Latin American Resources Limited (“LAR”) whereby the Company will reduce to a 10% finance carried equity interest in LAR. This agreement is in line with previous announcements by the Company during 2015 whereby the Company disclosed that it was seeking to retain an equity interest in LAR and its Atzam and Tortugas Oil Projects in Guatemala through the introduction of a new farm in partner to finance LAR.
In addition to the 10% interest, the Company will also have an option to acquire an additional 5% interest by paying US$1m to LAR (or its nominee) within 12 months from completion of the agreement.
If the Company does not choose to exercise its option within the 12 month period, Citation will forfeit its 10% interest in LAR. This will allow the Company time to assess the progress of the Guatemalan projects before committing to any future expenditure on the project.