The parties continue to work toward definitive agreements which will restructure the project pursuant to a non-binding "Heads of Agreement" executed on May 9, 2006. The goal of the restructuring of the project is to form an integrated venture including both upstream and pipeline assets.
Petrosearch Energy Corporation, a Nevada corporation with executive offices in Houston, Texas, was created by a team of seasoned and successful oil and gas professionals for the purpose of finding and developing oil and gas reserves across the United States. Petrosearch is currently active in Texas, Oklahoma, North Dakota, Louisiana, and Mississippi.
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