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Bullboard - Stock Discussion Forum Brixton Energy Corp PMBJF

"Brixton Energy Corp is engaged in the acquisition, exploration and development of petroleum properties."

GREY:PMBJF - Post Discussion

Brixton Energy Corp > Brixton Energy forms 50% JV on 350,000 acres
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Post by wholesomepath on Jul 17, 2012 6:47pm

Brixton Energy forms 50% JV on 350,000 acres

This came out out last week ... wants more details!

2012-07-11 07:41 ET - News Release

 

Mr. Richard Saxon reports

Brixton Energy Corp. has released the following corporate update. On July 3 and 4 Brixton met with the mineral rightholder of an extensive, yet contingent 350,000-plus-acre package of land on the east coast of Canada. Upon reviewing the information it is very clear that this property has oil-bearing sands with tremendous upside. In regard to drilling locations and target intervals both parties have agreed. Brixton will now engage into a joint venture contract with the mineral rightholder to acquire a 50-per-cent interest on 100 per cent of this property. Brixton has agreed to drill the first well in exchange for 50 per cent of the mineral rights on 350,000-plus acres.

Comment by beenaround2012 on Jul 18, 2012 12:08pm
I have tired to get more details from the guy I know at Brixton and he is not saying anything.   Good luck to all