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Hinto Energy Inc. (OTCQB:HENI) has acquired a 100 percent working interest in 640 acres and 8 oil wells in Musselshell County, Montana. The company currently has producing properties in Montana and Utah.
As quoted in the press release:
The Company expects to bring five additional Montana oil wells into production during the third quarter and the Company is in the process of reworking several of its Utah oil and gas wells. The results of these activities are expected to be announced late in the third quarter of this year.
Hinto Energy CEO, George Harris, said:
We continue to look at production opportunities in close proximity to our current producing assets and believe this acquisition offers production and revenue growth with the opportunity for an additional eight wells, which we hope to begin drilling by the end of 2014, weather permitting. The eight existing wells on the property have production potential from currently produced oil zones, some with unproduced oil formation(s) behind pipe.
Click here to read the Hinto Energy Inc. (OTCQB:HENI) press release
Click here to see the Hinto Energy Inc. (OTCQB:HENI) profile.