3MV Energy Corp. (TMV.V) announced that it has re-acquired the 75% interest of two newly (or recently) drilled wells by acquiring all of the outstanding securities of 1696704 Alberta Ltd. ("FarmCo"). Pursuant to the farm out agreement between FarmCo and 3MV, FarmCo drilled two wells on 3MV's Fiske property, with FarmCo funding 100% of costs to completion to earn a 75% interest subject to existing royalties. 3MV now has a 100% working interest in the two Fiske wells. Currently production equipment is being installed on the wells, and 3MV will provide the market with production updates in the coming weeks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
