re: Ann: Mako Appoints Macquarie and Acquires...
CALGARY, ALBERTA--(Marketwire - Sept. 6, 2011) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to report it has entered into an oil and gas project in the highly prolific Deep Basin region of Alberta, initiating a new core area for the Company. Contact has signed an agreement with another oil and gas producer, whereby Contact pays a land equalization amount and commits to participate in the drilling of a Contact-operated well. By securing a low cost of entry, Contact believes the transaction represents an extremely attractive opportunity towards the development of a productive and highly economic new core area in Western Canada.
Its a shame they dont mention who's on the other side of the deal or how much was paid!!!
MKE Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held