June 17, 2008
Hull Energy Acquires 10% Working Interest in Diamond Springs Prospect
Hull Energy, an oil and gas company, has acquired a 10% working interest in G2 Petroleum's Diamond Springs exploration project, west of Casper, Wyoming, in the Sweetwater Mountains.
The Diamond Springs prospect is adjacent to both the Wind River Basin and the Casper Arch in Freemont County and is in close proximity to productive gas and oil fields. The binding buy-sell agreement, between G2 Petroleum and Hull Energy, was executed on June 12, 2008.
Ron Ratner, CEO of Hull Energy, said: "This acquisition further solidifies Hull Energy's commitment to executing our strategic business plan. We expect to begin drilling on the Diamond Spring prospect no later than the third quarter of 2008. Diamond Spring has an estimated potential to produce over four million barrels of recoverable oil."