Boundary Bay signs definitive letter of intent, acquires working interest in producing well

Name	Symbol	Market	Type
JPMorgan BetaBuilders MSCI US REIT ETF	AMEX:BBRE	AMEX	Exchange Traded Fund

	Price Change	% Change	Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.0542	0.06%	87.18	87.33	86.52	86.66	11,071	21:15:00

JPMorgan BetaBuilders MS... (AMEX:BBRE)
Historical Stock Chart

From Jun 2019 to Jun 2024

Click Here for more JPMorgan BetaBuilders MS... Charts.

LAS VEGAS, Feb. 29 /PRNewswire-FirstCall/ -- Boundary Bay Resources, Inc. (Pink Sheets: BBRE) (the "Company") is pleased to announce that on February 12, 2008 a definitive letter of intent (the "LOI") was signed between Boundary Bay Resources Inc. and Nitro Petroleum Inc. ("Nitro"). Under the terms of the LOI, the Company has acquired a 50% working interest in the rework program for the producing well at the Jessica # 23A (the "Jessica Property"), located at SE/4 NW/4 SE/4 Section 5, 6N, 6E, in Seminole County, Oklahoma in exchange for $50,000. The Company also acquired inventory in excess of 200 barrels, which may be sold immediately, which was produced at the Jessica Property. Generally, the already producing well generates a few barrels a day. The Company has also acquired the right to participate in additional wells at the Jessica Property in exchange for a pro rata interest. It is expected that additional wells at the Jessica Property should be in production in the near future, following completion of the exploration and development programs currently underway. Per the terms of the LOI, the Company will receive 50% of the net revenues generated from the already producing well at the Jessica Property for the life of the rework program. "This acquisition falls perfectly in line with our strategic plan to acquire working interests in established oil and gas properties. Funds generated from this acquisition will be used to acquire additional oil and gas properties with proven reserves and upside exploration potential," stated Mr. Lee Borschowa, President of Boundary Bay. About Boundary Bay Resources, Inc. http://www.boundarybayresources.com/. Boundary Bay Resources is a dedicated to building a competitive oil and gas company that is cash flow positive. The Company intends to acquire working interests in established oil and gas production companies (Public or Private). Funds generated from this domestic production will be used to acquire premium oil and gas properties with both proven reserves and upside exploration potential. The company understands how exploration or "blue sky" opportunities can significantly increase the value of any company (especially when a deposit is found). Therefore, once/if some solid acquisitions are completed, our aim is to begin looking for potential oil and gas properties. On Behalf of the Board of Directors, Lee Borschowa President Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. CONTACT: Investor Relations at (702) 989-5022 DATASOURCE: Boundary Bay Resources Inc. CONTACT: Investor Relations at (702) 989-5022

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BBRE JPMorgan BetaBuilders MSCI US REIT ETF