Stonehaven Exploration enters Belly River participation agreement (Scandinavian Oil-Gas Magazine)

Stonehaven Exploration enters Belly River participation agreement

Published Oct 13, 2015

Stonehaven Exploration Ltd. has entered into a Farmout and Participation Agreement to initially drill up to 4 horizontal Belly River oil well prospects with working interests averaging approximately 65% BPO/35% APO in 5 sections of land in central Alberta. The Farmout and Participation Agreement also provides for an Area of Mutual Interest covering an additional 2 sections of land.

The participation in these wells is expected to enable the Company to meet its $3.4 million flow-through obligations in 2015.

The Company also reports that the Alberta Court of Queen's Bench has approved the settlement of the class action proceedings involving the Company.

Tags: Stonehaven Exploration Ltd.

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