Hinto Energy has acquired a 95% working interest in a 6 wells and approximately 1,160 gross leased acres in the Mason Lakes oil field in Musselshell, Montana.
George Harris, the Company's Chief Executive Officer, remarked, "We are extremely pleased to acquire these wells and oil leases in Montana. Source, injection and production wells are in place and we expect to rework the field and begin production during the third quarter. We believe the combination of recoverable oil and current oil prices make this a very attractive acquisition."
In addition to existing production and rework opportunities, the Company believes the leases acquired provide significant potential for drilling additional oil wells. The Company is continuing to evaluate opportunities to expand its lease holdings in the Musselshell county area.
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Hinto Energy Inc.
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