The New Southwestern AB. Property.Just recently Goldnev has added three new sections of land, in addition to these sections , and Goldnev will be the operator. rich47.
From the MD&A:
On October 23, 2008, the Company entered into an agreement with a private Alberta corporation toinvest pursuant to a farm-in agreement a total of $350,000 to purchase oil and gas freehold leases
encompassing 960 acres to explore and develop oil and gas prospects located in Southwestern Alberta.
Under the terms of the farm-in agreement, the Company has the right to earn a 100% working interest in
these oil and gas freehold leases by either drilling and completing an exploratory test well or re-entering
an existing oil well by December 31, 2009. These lands are subject to a 25% freehold royalty plus a 5%
gross overriding royalty and a 5% net carried interest to other parties.