BIG MONEY GOING TO BE MADE HERE!!
Georox proceeds with oil, gas asset acquisition
2018-06-01 16:08 ET - News Release
Mr. Burkhard Franz reports
GEOROX TO PROCEED WITH ACQUISITION
Further to the press release dated March 27, 2018, Georox Resources Inc. is proceeding with the purchase to acquire certain high-working interest-producing oil (approximately 94 per cent) and natural gas (about 6 per cent) interests in southwest Saskatchewan and eastern Alberta, from arm's-length vendors. Georox is lead on the transaction, having initiated and concluded arrangements, but is significantly supported by an arm's-length private company participant, responsible for 80 per cent of the transaction. Georox will become the operator subject to an industry standard joint operating agreement.
Georox and its supporting purchaser deposited with the vendor of the properties to be acquired from an additional non-refundable $900,000 on May 31, 2018, adding to the previous deposit of $900,000 and an initial deposit of $450,000, bringing the total deposit to $2.25-million. The balance of the $4.5-million purchase price, subject to adjustments, will be paid on June 11, 2018, closing scheduled.
About Georox Resources Inc.
Georox is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Georox develops, acquires and exploits oil and gas mineral rights for primary and secondary recovery.
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