Petro Resources, Inc., a wholly owned subsidiary of Blue Earth Resources, Inc., announced that as part of its continuing development plan to build a portfolio of working interests (WI) in US oil fields, it has acquired a 37.5% WI in 14 oil and gas wells in Spider Field in DeSoto Parish, Louisiana.

These oil & gas leases cover approximately 940 acres and are expected to offer the potential to drill additional wells to produce oil or liquids-rich gas. This acquisition signals Petro's entry as an oil & gas operator.

John Lai CEO, "I would like to acknowledge our appreciation for the patience and confidence from our valued shareholders, and we are looking forward to the benefits from further acquisitions as well as a bright and exciting future."

Tags: Petro Resources Corporation