X-Change Corporation reported through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it has acquired a 65,000 gross acre (50,000 net acre) lease position in the Alberta Bakken Shale formation in Montana.

Cress Oil plans to drill the initial 6-9 Bakken wells during the next 24-36 months, which will represent the start of a continuous, multi-rig development program for the company. In conjunction with a major oil company, Cress will develop the large acreage region over a period of the next 5 years.

"Our 65,000 acreage position in this region gives us a large competitive advantage in the Bakken Shale," said Atul Trivedi, chief executive officer of Cress Oil, Inc. "We believe the Bakken Shale gives X-Change Corporation a game-changing resource play for the United States and will be a major focus of Cress's future exploration and production activities."

Tags: X-Change Corporation