Highlands Natural Resources is pleased to announce that in line with its strategy to capitalise on the current oil price environment to acquire assets at a low cost, it has acquired exploration licences covering approximately 1,900 acres located in the Williston Basin, North Dakota. The consideration of US$19,000 has been satisfied through a cash payment.
Highlands CEO Robert Price said,'This land has been acquired at an extremely low cost and due to its location, it fits well with our strategy to take advantage of the oil price environment to acquire quality assets. We will provide further information in due course regarding the land and its potential. Additionally, we continue to work with the UKLA to return our shares to trading.'