|
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2013) - Petro One Energy Corp. (TSX VENTURE:POP)(PINKSHEETS:CUDBF)(FRANKFURT:C6K1) is pleased to report it has completed a transaction with a senior oil company on its J11 property totaling 64.75 ha or 160 acres in the Hardy Minton area of southeastern Saskatchewan. Under the terms of the agreement, Petro One is to receive $105,000.00 cash and a 7.5% GORR on all future oil production, surface to basement, for its working interest in the property. Petro One maintains excellent exposure to this play both with the closing of this transaction and by retaining a 100% interest in the J12, 13, 19 and 28 properties, all located in the same immediate area and totaling more than 711 ha or 1700 acres in size. |
