Portal Enters Birdbear Oil Play in West Central Saskatchewan

- March 28th, 2011

Portal Resources Ltd. (CVE:PDO) enters into an agreement to participate in the development of an oil play in west central Saskatchewan.

Portal Resources Ltd. (TSXV:PDO) enters into an agreement to participate in the development of an oil play in west central Saskatchewan.

The press release is quoted as saying:

Under the terms of the agreement between Portal and a private, Canadian oil and natural gas producer, Portal has the right to earn a 25%, non operating, working interest in a total of four sections of land (2,560 acres). A 25% working interest in the first two sections will be earned by participating in, and paying a 50% cost share of, the drilling of one vertical and one horizontal well. An interest in an additional two sections of land will be earned with participation on a “straight up basis” (25% of costs for a 25% working interest).

Click here to access the entire press release

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