Enterprise Acquires Approximately 46,695 Net Acres of Oil and Gas Leases
Enterprise Energy Resources Ltd.'s (EER.V) wholly owned US subsidiary, Evolution Oil Group, LLC has completed the acquisition, from an arm's length third party, of approximately 46,695 net acres of oil and gas leases in Cascade County, Montana. Evolution holds a 100% working interest in the Leases, the majority of which have a 10-year term.
As consideration for the leases, Evolution will pay the Seller US$45 per net mineral acre for an aggregate purchase price of approximately US$2.1 million.
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