Detector Exploration Ltd. (TSXV:DEX) announce that it will acquire gas properties located in the West Pembina area of Alberta. Detector intends to arrange the roughly C$650,000 required to complete the transaction through debt financing.
As quoted in the press release:
The properties were marketed in a divestiture package and include 85 sections of land and working interests in 60 shallow gas wells. At current gas prices the net production of approximately 1.3mmcf/d will add significantly to Detector’s cash flow and aid in moving the balance sheet toward a positive cash flow.