TSXV:VER.H - Post by User
Post by
Firetrainon Nov 29, 2010 5:01pm
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Post# 17772799
Hello board
Hello boardI know you guys don't like newbies, but I have something to say about the news. I will bold the part that is missing in the stockwatch news release and other news media. It's clearly on the Vecta website if you want to check. If the Exshaw/Bakken is the JV play, and 90,000 acres have been assigned to the JV then I'm feeling pretty comfortable that the land is in the Bakken trend. Without that missing piece a person could think the lands are elsewhere. And I agree. The other objective is the Sunburst Sandstone.
Hope this helps some folks.
Vecta Energy Corporation Enters Joint Venture in Montana Exshaw/Bakken Oil Play1:47PM ET on Thursday Nov 04, 2010 by Marketwire Canada
Vecta Energy Corporation ("Vecta") (TSX VENTURE:VER) is pleased to announce that it has signed a Letter of Intent to enter into a Joint Venture ("JV") with a non-arm's length party, to participate in the Exshaw/Bakken light oil resource play in northern Montana. The JV partner's leasehold interests under approximately 90,000 acres of lands will be assigned to the JV, which are deemed prospective for multiple objectives including the Exshaw/Bakken (the "JV Play"). The JV partner is active in the exploration and development of projects in multiple basins in the Rocky Mountains and other regions within the United States. A number of Canadian and U.S. companies are actively pursuing the Exshaw/Bakken light oil play that extends south from the Alberta/Montana border.
Vecta will manage the JV from its Calgary office and the technical team from the JV partner will be responsible for the operations, including all engineering, land, geological and geophysical functions in the evaluation and development of the JV Play. The parties will proceed with the preparation of a formal Joint Venture Agreement and Vecta will seek funding for an aggressive work program, expected to commence in early 2011.
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