Texalta Updates Georgina Basin, Australia

Texalta Petroleum Ltd. ("Texalta") (TSX VENTURE:TEX.A) on behalf of its wholly
owned subsidiary, Texalta Australia Pty Ltd., is pleased to announce that it has
received $3.25 MM CAD from Georgina Basin Energy Pty Ltd., ("GBE") representing
the balance of the $5 MM CAD which GBE agreed to contribute to the work program
on Permits 103 and 104 to earn a 50 percent working interest in both Permits.
Under the terms of the Farmout and Participation Agreement dated December 21,
2007, GBE will now become operator of the project.


The Year 3 work program on both permits has now been modified to allow for an
additional 150 km of seismic on each permit in lieu of the previous one well per
permit drilling requirement. The additional seismic is required in order to
provide four way closure to the structures identified in the previous seismic
program completed in June 2009.


Texalta anticipates that the new operator will be entering into a Seismic
Services Agreement for the second seismic program scheduled to commence in mid
2010.


TEX.A is a Calgary based company engaged in the exploration, acquisition and
development of prospective oil & gas properties in Saskatchewan and Alberta,
Canada. The company's wholly owned subsidiary, Texalta Australia Pty. Ltd. holds
a 50 percent working interest in two exploration permits covering in excess of
5.5 million acres of prospective land in the Georgina Basin, Northern Territory,
Australia.

Lifestyle Global Brands (TSXV:GBE)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024