Stealth Ventures has signed a joint venture with MOI Resources (MOI) looking to expand into the Colorado Group of Shales (Colorado) resource play. "We're excited to be entering into a partnership with Stealth and see a lot of potential in the Colorado. It's a good time to be entering into the gas markets as we probably wouldn't have had this chance if gas was $10/mcf." said MOI Resources' Chief Executive Officer Kerwin Mondor.

The Cretaceous Colorado group in the WCSB is represented almost continuously in a 1000km east-west profile. Of the over 250,000 well bores that penetrate the Colorado, most have been drilled to target deeper horizons. Derek Krivak, President and CEO of Stealth said, "There is a lot of running room for the Colorado and there is no question that Stealth's efforts are just the tip of the iceberg. There is more potential than we would ever be able to manage on our own and so we're excited to be expanding our efforts with MOI." No further terms or conditions were announced.

Tags: Stealth Ventures Ltd.