Stealth Ventures Adds to Land Positions
Stealth Ventures Ltd. has acquired a 50% interest in a Petroleum and Natural Gas Exploration Permit in Pictou County, Nova Scotia, covering 118,050 acres. Stealth also has a Coal Gas Production Permit in Pictou County.
Stealth has also reached agreement to enter into a Farm-in potentially covering several Townships in Alberta along the same regional trend as its Saskatchewan Shale Gas Play. Stealth expects to drill the first well on this play in the first quarter of 2006.
Stealth also announces the issuance of options under its Stock Option Plan to Employees and Directors entitling them to purchase up to a total of 843,000 shares at a price of $1.50 per share, exercisable for a period of five years.
Stealth is a Calgary-based junior oil and gas company listed on the TSX
Venture exchange, whose expertise and focus is "unconventional" gas reserves
such as CBM, shale gas and ultra tight sand gas reservoirs.