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CanTex Energy to acquire Bedford Energy


Published Aug 23, 2010
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CanTex Energy Corporation

CanTex Energy Corp. has entered into a letter of intent for the acquisition of Bedford Energy Inc. The completion of the acquisition is anticipated to close before October 20, 2010. The Combined entities complement each other with the seismic skill base of CanTex fitting in with the drilling and operations of Bedford. After closing, the combined entities will have over 250,000 BOE in engineered proven oil and gas reserves behind pipe, and some 1,600,000 BOE in proven undeveloped.

The Company also announced that effective immediately, Bruce Scambler has been appointed to the Board of Directors and will serve as its Chairman and Company CEO. Harvey Bryant has also been added to the Board of Directors and will serve as the Company's President. Trace Maurin will continue on the Board and will serve as COO with current focus on the Texas Operations and Texas seismic exploration and lease prospect development.

Tags: CanTex Energy Corporation



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