Paxton Energy Signs Acquisition Agreement

Paxton Energy, Inc. (OTCBB:PXTE) has entered into an acquisition agreement on November 14, 2011.

As quoted in the press release:

Paxton will acquire a 2% Override Interest in the entire Mustang Island 818-L Lease, covering 14,400 acres in the Gulf of Mexico, with a 10.35% Working Interest in the recently drilled I-1 well, located on the lease, from Black Cat Exploration & Production, LLC (“Black Cat”), a Texas limited liability company.

Click here to read the Paxton Energy, Inc. (OTCBB:PXTE)  press release.