The property, which has the size about 45,000 gross acres, is located in the Cherokee Basin, which straddles Kansas, Missouri, Arkansas and Oklahoma.
The Cherokee Basin is an intercratonic depression located in southeastern Kansas, southwestern Missouri and northeastern Oklahoma that has been producing gas for over 80 years from carbonaceous shales and coals.
The closing of the transaction contemplated by the agreement will occur no later than 15 December 2010.
Uniontown Energy focuses on the acquisition, development and production of oil and natural gas properties.
