Virtus signs Letter of Intent to acquire San Juan County oil and gas field (Scandinavian Oil-Gas Magazine)

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Virtus signs Letter of Intent to acquire San Juan County oil and gas field

Published Feb 25, 2016

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Virtus Oil and Gas Corporation has signed a letter of intent with a US subsidiary of an international Oil and Gas Company, to acquire its U.S. operated, producing oil and gas fields in San Juan County, Utah.

Under the terms of the letter, the company has 30 days to conduct and complete its due diligence on the title, compliance, and facility review and finalize the pending offer subject to the third party Reserve Report.

VOIL is currently compliant with State of Utah and the Bureau of Land Management to Operate and produce in the state of Utah and will be using previous bond in place to do this.

Tags: Virtus Oil and Gas Corporation

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