Strata-X acquires 8,846 acres in Maverick Oil Project, Texas
Wednesday, Dec 05, 2012
The directors and management of Strata-X Energy Ltd ("Strata-X" or the "Company") (TSX VENTURE:SXE) are pleased to provide the following update on the Company's high potential Maverick Oil Project located in the Eagle Ford Fairway, Maverick County, Texas. Strata-X elected to convert certain land option rights it was holding into full exploration leases covering a total of 8,846 net acres. The Company has obtained 100% of these leases.
The Company has also reached an agreement on an additional 1,135 net acres of Eagle Ford exploration leases which are in the process of closing. These two transactions will bring Strata-X's total land holding in the Maverick Oil Project to 10,945 net acres. The Company is continuing negotiations to expand its leasehold in the area.
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