Azabache Energy Inc V.AZA

RE: Expect a news release soon

[JonnyRbuck12]

Looking at the last two news releases, we still got that large sized drill with Unitec. Take a look at UNE, we should have a similar spike once we get drilling anounced, except our potential is better than UNE's, so could be a 10 bagger, I say 5 bagger for sure from this price. Get a good chunk cheap, sell half once were in double digits again and  then ride the other half worry free.$0$0$0$0$0Argenta Finalizes Loma El Divisadero Farm-Out Agreement with Unitec Energy ; Announces Executive Changes$0$001/8/2009$0$0Argenta Oil & Gas Inc. announced that the company has finalized its farm-out agreement for a 20% working interest in the Loma El Divisadero property with Unitec Energy. The terms of the agreement provide for Unitec to pay the company $3.5 million, $500,000 of which will be paid in cash and the $3 million balance to be allocated towards the cost to drill two wells. Once this is completed, Unitec will have an option to acquire an additional 30% working interest and the operation of the Loma El Divisadero property by investing an additional $3.3 million in additional wells and development costs. Unitec will also pay Argenta production bonuses calculated on cumulative gross production target commencing at $1.1 million when 4.4 million barrels of oil equivalent production has been achieved, and up to a total of $7.5 million when an additional 4.0 million barrels of oil equivalent production has been achieved, producing a cap at cumulative production of 8.4 million barrels of oil equivalent. The company also announced the appointment of Andres Tinajero as Chief Financial Officer of the company. Andres possesses 15 years of business experience in corporate accounting and finance. He has held industry positions for companies ranging from $10 million to more than $3 billion in annual revenues as a CFO and controller. Andres' industry experience includes oil and gas, mining, cement, franchising, not-for-profit, and construction materials. Mr. Tinajero will be based in the company's head office in Toronto, Canada. Mr. Colin Grant has stepped down as interim CFO and will continue as Treasurer of the company.$0$0$0$0Their was also an update to this news release as well.$0$0