Bontan Corporation Inc. (BNTNF.OB) Receives Government Approval of Offshore Licenses
Bontan Corporation Inc. announced that the government of Israel officially confirmed the validity of 2 offshore oil and gas licenses held by the company. Bontan Corporation Inc. said that the Israeli Ministry of National Infrastructure sent a letter to the company in May 2010 stating that the 347/Myra and 348/ Sarah licenses were valid. The company has an 11% net working interest in both offshore licenses. The Israeli Ministry of National Infrastructure also approved changes to the development program drafted by Bontan Corporation Inc. and its two partners in the venture. Bontan Corporation Inc. said that the first stage of…