TheAustralian-listed company will pay an initial $2 million to acquire privateentity Stikito, which holds 100% stakes in the four exploration and productionlicences in the Orenburg oblast, and will also issue new shares as part-paymentunder the non-binding term sheet disclosed on Tuesday.
Zeta, whichis taking out a convertible loan of $2 million with one of its shareholders tobankroll the deal, will also pay an additional $1 million subject to the assetsmaintaining a production rate of more than 220 barrels per day for 220 days.
The
