West Canyon Signs LOI for Spring Creek Prospect In N.D.
West Canyon Energy Corp., a Houston-based energy exploration and production company focused on high impact energy prospects in the continental United States, has signed a Letter of Intent to acquire one-hundred percent (100%) working interest, in the Spring Creek Prospect.
On March 25, 2008 we entered into a letter of intent (“LOI”) with Slope County Oil Company to acquire their existing leases in the Spring Creek Red River Prospect for the payment of $240,000 and $7,500 in geologist fees. The Company will acquire 4,800 acres of property in North Dakota with estimated potential reserves of 60 million barrels of oil (MMBO).
Fred B Zaziski, Chairman of West Canyon Energy, states: “North Dakota has recently become a prolific 'hot-spot' for oil and gas. It was an easy decision to seek out projects in the area, and I am excited at the potential this brings to our company.”