Blacksteel Purchases Albertan Lease
Blacksteel has purchased, without condition, a 100% working interest in a four-section (1,024 hectare (Ha)) lease in the Plains Region of Alberta. This lease was purchased at the April 21, 2010 public offering of Alberta crown petroleum and natural gas rights. The Company paid total cash bonus consideration of $645,662.72 for this lease, averaging $630.53 per Ha, plus lease rental for one year. In connection with this lease purchase Blacksteel has paid $10,000 and has granted a 2% gross overriding royalty interest on future production to a consultant of the Company.