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Transeuro Energy Corp. (CVE:TSU) announces the news released by Eaglewood Energy Inc. (CVE:EWD) regarding the Ubuntu-1 well in PPL-259 in Papua New Guinea.
Transeuro Energy Corp. (TSXV:TSU) announces the news released by Eaglewood Energy Inc. (TSXV:EWD) regarding the Ubuntu-1 well in PPL-259 in Papua New Guinea.
The press release is quoted as saying:
Transeuro has a back-in option to acquire 10% of all four Petroleum Prospecting Licenses held by Eaglewood in PNG after three wells have been drilled on the licenses by paying 10% of the exploration costs. The Ubuntu-1 well is the second of the three wells.
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