GRPRD news release! Grid Petroleum Corp. Enters In
Post# of 98044
Posted On: 09/16/2015 11:00:44 AM
Re: MoneyMaker #42754
GRPRD news release! Grid Petroleum Corp. Enters Into a Farm-In Agreement
DENVER, CO / ACCESSWIRE / September 16, 2015 / Grid Petroleum Corp. (PINKSHEETS: GRPRD): The Board of Directors is pleased to announce that Grid Petroleum has entered into a Farm-in agreement on the "Panther Project" located in Garfield County, Montana.
The "Panther Project" covers approximately 22,000 net acres and includes the Cougar Prospect, the Lynx Prospect, and the Bob Cat Prospect. Grid will acquire a 3D Survey over the Cougar Prospect and Farm-In on a 1/3 for a 1/4 basis by drilling a well to 200 feet below the top of the Heath formation on the Cougar Prospect.
Once production is established, Grid will earn a 50% interest in approximately 3,000 acres representing the Cougar Prospect. Additionally, one-half of the 3D survey costs will be considered operational expenses and will be paid back through production.
Edward Aruda, President of Grid Petroleum Corp., states, "The Company has sought opportunities in Montana and we are very excited as this moves our future plans forward."
See Full: https://www.accesswire.com/432011/Grid-Petrol...-Agreement
DENVER, CO / ACCESSWIRE / September 16, 2015 / Grid Petroleum Corp. (PINKSHEETS: GRPRD): The Board of Directors is pleased to announce that Grid Petroleum has entered into a Farm-in agreement on the "Panther Project" located in Garfield County, Montana.
The "Panther Project" covers approximately 22,000 net acres and includes the Cougar Prospect, the Lynx Prospect, and the Bob Cat Prospect. Grid will acquire a 3D Survey over the Cougar Prospect and Farm-In on a 1/3 for a 1/4 basis by drilling a well to 200 feet below the top of the Heath formation on the Cougar Prospect.
Once production is established, Grid will earn a 50% interest in approximately 3,000 acres representing the Cougar Prospect. Additionally, one-half of the 3D survey costs will be considered operational expenses and will be paid back through production.
Edward Aruda, President of Grid Petroleum Corp., states, "The Company has sought opportunities in Montana and we are very excited as this moves our future plans forward."
See Full: https://www.accesswire.com/432011/Grid-Petrol...-Agreement
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