Heavy Earth Resources, Inc. has entered into a non-binding letter of intent (LOI) through its wholly owned subsidiary Deep Core Barbados, with New Horizon Exploration, Inc., an oil and gas exploration and production company based in the United States with principal operations in Colombia, for the purchase of 100 percent of the equity ownership of New Horizon.

“We are very excited to have entered into this letter of intent and are anticipating closing this transaction by January 31, 2014. Together with our partners, we hope to be able to more rapidly expand the pace of the exploration of this very promising block”

Tags: Heavy Earth Resources, Inc.