The company said that the property, which consists of 341 sq km, has tremendous exploration potential.
The initial exploration program includes geological mapping, prospecting, soil and lithogeochemical sampling and ground geophysical surveys (magnetic and IP).
Morumbi has near-term light oil exploitation opportunities in northwest Alberta, Canada and, through its recent acquisition of Rockwell, it is undertaking programs to develop existing assets and conducting activities to buy additional high impact oil/gas and mineral assets.
