According to the company, the acquisition brings it to a total of 100% interest in the parcel of land. Pemberton Energy will retain 75% beneficial interest and will assume 100% of the drilling and completion costs of the well, inclusive of all operating, processing, transportation and production costs.
This land acquisition is contiguous to the recently drilled wells and Pemberton continues negotiations on an additional parcel of land in the area. This land agreement is subject to TSX approval.
