AER Energy Resources, Inc. Announces Joint Venture Agreement for Drilling Project With Black Gold Exploration LLC

AER Energy Resources, Inc. (OTC Pink:AERN) has signed an agreement with Black Gold Exploration LLC of Farmersville, TX for the purchase of a 50% interest in a joint venture.

As quoted in the press release:

AER Energy Resources, Inc. is purchasing a 50% joint venture interest for the drilling of two new wells on leases in Knox County, Texas. The agreement calls for a Definitive Joint Venture to be executed no later than October 20, 2011 with closing no later than November 11, 2011. Both companies expect successful completion of the JV.

AER Energy Resources’ President, Stanley F. Wilson stated:

“AER continues to implement its plan of investing in existing leases for the drilling of new wells and secondary recovery wells with established industry partners. This opportunity to Joint Venture with Black Gold Exploration LLC is a good example of our continued success and increases our previously announced drilling and rework projects on a combined wells basis with Black Gold Exploration LLC, Multiplex Resources, Inc. and Rehoboth LLC. to 31 total wells.”

Click here to read the AER Energy Resources, Inc. (OTC Pink:AERN) press release