NAL Oil & Gas Trust Significantly Increases Mississippian Light Oil Acreage in Saskatchewan
NAL Oil & Gas Trust (TSX:NAE.UN) reported that the company has, through a series of transactions, acquired additional acreage in southeast Saskatchewan.
NAL Oil & Gas Trust (TSX:NAE.UN) reported that the company has, through a series of transactions, acquired additional acreage in southeast Saskatchewan.
The press release is quoted as saying:
The recent acquisition of acreage in southeast Saskatchewan and the incremental net capital spending of approximately $14 million for the remainder of 2010 in the greater Hoffer area, is included in the increased capital expenditure guidance of $210 million announced with the Trust’s $100 million equity financing on April 5, 2010. NAL’s development program for the remainder of 2010 continues to be approximately 75% to 80% weighted toward oil and evenly balanced between Cardium oil projects in Alberta and Mississippian projects in Saskatchewan.