Magnum Energy Inc. Announces Signing of Purchase and Sale Agreement for Acquisition of Viking Oil Producing Assets

Magnum Energy Inc. (TSXV:MEN) together with Nextraction Energy Corp. (TSXV:NE) signs a definitive legal Purchase and Sale Agreement.

The press release is quoted as saying:

The private company is currently producing approximately 30 barrels of sweet light crude per day from its 100% owned and operated vertical wells situated on 3.25 sections of largely undeveloped land. The 100% owned infrastructure includes a battery, disposal well, and pipelines.

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