Western Plains Petroleum (WPP)

[JonnyRBuck12]

Western Plains Petroleum Ltd
Symbol WPP
Shares Issued 32,137,274
Close 2010-02-23 C$ 0.15
Recent Sedar Documents



Western Plains to buy Maidstone oil and gas rights


2010-02-24 14:43 MT - News Release

Mr. David Forrest reports

WESTERN PLAINS PETROLEUM TO ACQUIRE MAIDSTONE INTERESTS

Western Plains Petroleum Ltd. has entered into an agreement to acquire 100 per-cent working interest in petroleum and natural gas rights located at the W/2 of 25-23-48 W3M, located in the Maidstone area of western Saskatchewan, from a private non-arm's-length oil and gas company for a cash purchase price of $30,000. There is a history of heavy oil production from this block and the company is negotiating with an operator in the area to acquire two shut-in wells also located on these properties.

The proceeds for this acquisition will be provided from working capital. Closing of the acquisition is expected to occur this week, subject to normal industry conditions and the approval of the TSX Venture Exchange.

We seek Safe Harbor.


With this acquisition, WPP now has 4 wells to reactivate and 1 well to reshoot. Production could double once all of these wells are done.