Amarox Energy's (TMX: AMR) Bighorn Acquisition

Written By Jason Stutman

Posted October 8, 2013

Amarox Energy Inc.’s Bighorn Acquisition

Amarox Energy Inc. (TMX:AMR) has announced that its subsidiary Trilateral Energy has acquired a 50% working interest in oil and gas properties in Wyoming’s Bighorn basin for $1.8 million. The purchase includes 8 gross (4 net) wells and over 5,200 (2,600 net) acres of land. Current production rates for the property offer Amarox 35 net barrels per day. Future capital input should be expected from this deal, as most of the acquired property resevoirs aren’t currently undeveloped. The Bighorn has been under production for over 50 years and offers mainly mid grade oil reserves.

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