Legend Oil and Gas, Ltd. Acquires Bakken Lands
09 3월 2011 - 11:00PM
Marketwired
Legend Oil and Gas, Ltd. (OTCBB: LOGL)
("Legend," the "Company") is pleased to announce that it has
completed the acquisition of un-developed mineral leases in Divide
County, North Dakota in close proximity to the Ambrose Field.
DIVIDE COUNTY LEASES
Legend has been evaluating and assembling opportunities to
acquire un-developed leases in Divide County since January 2011.
The Company has now completed the acquisition of leases on six
sections of land in the County totaling 3,840 gross acres of Bakken
and Three Forks development land (net 387 acres). Management is
happy with the acquisition in that the leases are contiguous in
nature and are in close proximity to the development of the Three
Forks play, being actively drilled by SM Energy and Baytex Energy
in the Ambrose field to the east from the acquired leases.
The acquisition will give the company an interest in four
drilling spacing units in the area (a drilling spacing unit
consisting of two sections or 1,280 acres). Legend will continue to
pursue the acquisition of additional acreage in the area and will
wait on the results of development wells currently under
confidential status before moving forward with a drilling program
on the leases.
About Legend Oil and Gas, Ltd.
Legend Oil and Gas, Ltd. is a managed risk, oil and gas
exploration/exploitation, development and production company with
activities currently focused on leases in southeastern Kansas and
northern North Dakota.
Investor Contact Marshall Diamond-Goldberg President
403-617-2071
Legend Oil and Gas (CE) (USOTC:LOGL)
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Legend Oil and Gas (CE) (USOTC:LOGL)
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