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Manitok Announces Its Production Exceeds 1,000 boe/d and a Letter of Intent to Farm Out Lands to Petrus Resources Ltd.
Oct. 05, 2011 02:06PM PST
Company NewsManitok and Petrus Resources Ltd. have entered into a letter of intent regarding the farm out of Manitok lands in the Stolberg and Fallen Timber areas of the Alberta foothills.
As quoted in the press release:
As quoted in the press release:
The Farm Out will reduce Manitok’s capital commitment per drill, increase the expected rate of return on capital, and reduce finding and development costs on the Farm Out reserves.
Click here to see the full press release
Click here to see a profile on Manitok Energy Inc. (TSXV:MEI)
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