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Lighthouse Petroleum Inc (LHPT) > iHub board.
http://investorshub.advfn.com/boards/board.aspx?board_id=6162

Lighthouse Petroleum Inc.
http://www.lighthouselhpt.com/

Lighthouse Petroleum, Inc., Signs Letter of Intent for Lease for Land in Callahan County
DALLAS, TX, May 11, 2011 (MARKETWIRE via COMTEX) -- In February Management announced its plan to identify 2 or 3 properties for Lighthouse to acquire in the first half of 2011. Management is pleased to announce that Lighthouse Petroleum, Inc., (PINKSHEETS: LHPT) has entered into a letter of intent for a transaction that could potentially allow LHPT to drill wells for the next 5 years and control up to approximately 8 sections (one section equals 640 acres) of lands in Callahan County Texas. The Company has completed the initial business review of the properties and is moving into the legal due diligence phase to complete the acquisitions of these leases. Management believes it is in the best interests of the Company to acquire domestic properties to build the foundation for LHPT and these properties fit this objective. Due to the size and nature of this transaction Management believes the Company will need to begin hiring additional staff.
This transaction will have LHPT acquiring the following: a lease for 1560 Acres with 62.5% working interest, a second lease for 960 Acres and 100% working interest and an option for an additional 2,670 acres with 100% working interest. In addition to the leases LHPT will acquire a well with 62.5 % working interest in the Ellenberger along with wellhead, casing, tubing and all equipment (50%WI APO) and a second well with 87.5% working interest to payout then a 75% APO with any and all equipment.


Lighthouse Petroleum Targets Acquisition of Additional Projects
DALLAS, TX, Feb 15, 2011 (MARKETWIRE via COMTEX) -- Lighthouse Petroleum (PINKSHEETS: LHPT) has begun reviewing and analyzing several potential new projects for the Company. The Company's Management plans to identify and target 2 to 3 new opportunities in the first half of 2011. Lighthouse's primary geographic focus will be properties located in Texas with a secondary view to additional properties located elsewhere within the United States. Management's main focus during the first half of 2011 is to increase the Company's assets and opportunities by attempting to secure solid projects through a combination of leasing land with drilling possibilities and operating wells. "Based on the current market, I believe it is our best interest to target oil properties with the correct mix of geological and economic analysis. I believe there are enough domestic opportunities to build a solid foundation," said Glen Kennedy, CEO.

http://www.otcmarkets.com/stock/LHPT/news