Pemberton Energy to Acquire Producing Wells
Posted on: Monday, 21 July 2008, 06:00 CDT
Pemberton Energy has signed a letter of intent and provided required deposit on a purchase of three producing wells, which are equipped with fully operational pump jacks, two phase separators, five storage tanks, and an oil treater cold water recycling system.
As part of the three producing wells deal, Pemberton will acquire approximately eight acres of real estate with a three-bedroom mobile home to serve as a field office and a 740 Champion Grader to help maintain well sites and access roads.
Pemberton is expected to release details and production numbers upon completion of this transaction.
Matthew Dodwell, board member of Pemberton Energy, said: "With the acquisition of the properties, Pemberton has secured a revenue stream, multiple doors of opportunity, and various assets needed to continue forward in a productive manner, thus stabilizing the company as a whole."
Source: Datamonitor
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