Vital Resources to Acquire Two Fields in Sumatra

Vital Resources has entered into a Memorandum of Understanding (MOU) Agreement with a Houston-based international oil and gas company that will transform the company into a producing company with diversified oil and gas assets in Indonesia and the Philippines. The Purchase is for a 100% interests in two producing oil and gas fields located on the island of Sumatra, Indonesia.

Vital is also in negotiations to reduce its interest in three Service Contracts in the Philippines in order to balance its risk-reward profile while enabling growth in other areas in addition to the Philippines.

Vital Resources is a Calgary-based international junior oil and gas exploration company.