Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/petroshale-to-acquire-strategic-asset-in-north-dak.shtmlPetroShale to acquire strategic asset in North Dakota
PetroShale Inc. has finalized an agreement to acquire an 18.75% Working Interest in a proposed drilling unit in McKenzie County, North Dakota,
Edit page New page Hide edit links
PetroShale Inc. has finalized an agreement to acquire an 18.75% Working Interest in a proposed drilling unit in McKenzie County, North Dakota, for a total purchase price of US$3.25 million, including 200,000 common shares issued at a price of $1.34 per share. The Company intends to use existing credit facilities and cash resources to fund the cash portion of the purchase price and anticipates the transaction will close before the end of January.
This transaction is a continuation of PetroShale's strategy to selectively acquire acreage that offers highly economic upside potential, and is operated by a leading Basin operator.
