09:52 AM EST - Progress Energy Resources Corp. : and PETRONAS Carigali Canada Ltd announced today that PETRONAS Canada has exercised its right under the arrangement agreement between the parties to extend the "Outside Date" under the agreement to November 30. The Outside Date was originally established as October 31. Under the agreement, PETRONAS Canada has the right to extend the Outside Date from October 31 for up to 90 additional days, in 30-day increments, if the required regulatory approvals have not been obtained. After the Outside Date, either party has the right to terminate the agreement. Progress Energy Resources Corp.
shares T.PRQ are trading up $0.87 at $19.23.
