Hillcrest signs definitive agreement
(firmenpresse) - Hillcrest signs definitive agreement
Hillcrest Resources Ltd. has signed a definitive agreement with West Bakken Holdings Ltd. The definitive agreement follows the previously announced letter of intent (July 24, 2013) between the two companies. The total agreement, when completed, includes 50 per cent ownership in the oil and gas interests, and properties and related rights and interests to the oil and gas leases in Montana, comprising 12,333 gross acres in Teton county. Hillcrest is slated to receive a total of $550,000 (U.S.) for the purchase.
The LOI was signed on June 28, 2013 and a non-refundable deposit of Fifty Thousand ($50,000.00) U.S. Dollars was received on July 3, 2013. The definitive agreement was signed August 14, 2013 and as per the terms of the agreement a payment of One Hundred and Twenty Five Thousand ($125,000.00) U.S. Dollars was received by the Company on August 16, 2013.
The definitive agreement outlines provisions whereby three additional payments of One Hundred and Twenty Five Thousand ($125,000.00) U.S. Dollars will be received in 60-day intervals following the signing of the definitive agreement.
Don Currie, CEO and Chairman states "The signing of the definitive agreement and the subsequent $125,000.00 payment is the next step in an effort to create value from the Woodrow acreage. There are numerous development programs either started or contemplated in the area. Hillcrest will continue to monitor results in the area with the goal of maximizing value to the Company."
For more information on Hillcrest Resources Ltd, contact Donald Currie toll free at 1-866-609-0006 or visit the Company's website at www.hillcrestresources.com
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Leseranfragen:
Hillcrest Resources Ltd is focused on oil & gas exploration and production. The Company has drilled and completed a well in Newton County Texas which has been producing at a restricted rate of 42 barrels per day from August of 2010 to the end of February 2011. Production increased to 47 barrels per day in March. The well, Donner #1, is part of the Hartsburg project and is the first of 3 wells that form the initial focus of the Company. The Donner #2 is scheduled for drilling in the 2nd quarter of 2011 and Donner #3 shortly after.
" alt="European Uranium's Kuriskova license renewal challengedDatum: 23.08.2013 - 10:27 Uhr
Sprache: Deutsch
News-ID 290377
Anzahl Zeichen: 1825
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Town:
Wien
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Business News
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