Synergy Resources Corporation has entered into a Joint Development Agreement (Agreement) with Johnson Production Corporation (JPC) and Kodiak Petroleum, Inc. (Kodiak), both Colorado corporations, to drill oil wells and develop acreage in Dundy County Nebraska.

The Agreement covers a defined area of 8,011 net mineral acres in Dundy County, Nebraska, (the "Contract Area") and provides for the drilling of up to ten wells. It has an initial term of one year, and annual extension provisions for an additional four years. JPC or Kodiak will be the operator for all wells.

Tags: Synergy Resources Corporation