Next Generation Energy has acquired all the membership interests of Knox Gas, the owner of 10 drilled and completed gas wells in Knox County in the US state of Kentucky.

The company has also acquired a 700-acre lease from Knox Gas for the future development of additional gas wells.

Next Generation Energy CEO Darryl Reed said that the company now owns a lease of 100 acres, containing five drilled wells, a lease of 20.2 acres, containing two drilled wells, and a lease of 400 acres with three drilled wells.

"We anticipate that the wells will be online and producing gas within the next several months," Reed said.