Star Minerals Group Limited (DB:L3O1) entered into a non-binding letter of intent to acquire 40% working interest in Prospective Lands for Oil, Gas and Helium Exploration from Vela Oil & Gas Corp. for CAD 0.4 million in cash on January 19, 2016. Exclusivity period will end on April 1, 2016, within which a definitive purchase agreement will be negotiated and concluded. The transaction may be subject to regulatory approval. Star Minerals Group Limited (DB:L3O1) cancelled the acquisition of 40% working interest in Prospective Lands for Oil, Gas and Helium Exploration from Vela Oil & Gas Corp. on January 19, 2017.