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Reef Resources enters into Keg River, B.C. farm in agreement


Published Jan 1, 2008
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Reef Resources enters into Keg River, B.C. farm in agreement

Reef Resources Ltd. has entered into a farm-in agreement with Unitech Energy Inc. for 6.75% WI of the high impact Keg River prospect in north eastern British Columbia.

The terms of the Farm-in are that Reef will pay 7.5% of the capital expenditures for the drilling and the completing of the C-B67-K/9-I-14 well to earn a 6.75% WI in this well plus 20 blocks of B.C. Farm-in lands with natural gas rights below the Slave Point.

In addition, Reef will have an option to participate in 12 blocks with rights below the Jean Marie except natural gas in the Slave Point, 15 blocks with rights below the base of the Slave Point and 4 blocks with rights below the base of the Jean Marie.

The test well on the Prospect, which was drilled and cased in the Spring of 2007, is now ready for completion. The operator has indicated that the completion will commence early in January, 2008.

Tags: Reef Resources Ltd.




   

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