Hemisphere Energy Corporation has entered in to an agreement to acquire certain petroleum and natural gas leases in the Atlee Buffalo area of southeast Alberta. The property includes an 85% working interest in 1.75 sections (1120 acres) of land adjacent to Hemisphere's existing landbase.

Total consideration for the acquisition is $510,000. The transaction is expected to close by mid July 2014 and is subject to regulatory acceptance.

Tags: Hemisphere Energy Corporation