Alberta Star Agrees to Participate With Forent Energy Ltd./Sahara Energy Ltd. Drilling Another Heavy Oil Well

Alberta Star Development Corp. (TSXV:ASX) agrees to participate drilling one well (0.5 net to the Company) on the Blackfoot lands located in the Lloydminster area of Alberta.

The press release is quoted as saying:

Forent Energy Ltd. (“Forent”) will be the operator and holds a 50% working interest in the well. Alberta Star must pay 50% of the cost to drill, complete and equip or abandon the well to earn a (50% net) interest before payout, reserving to Sahara Energy Ltd. (“Sahara”) a gross convertible overriding royalty of 15% until payout. After payout, Sahara has the option to convert its gross overriding royalty to a 25% working interest (25% net) in the well spacing unit.

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