Georox Resources Announces Crown Land Acquisition; Shares Drop 12%
Georox Resources Inc. (GXR.V) was sharply lower in mid-morning trade, down almost 12%. It is trading at 15 cents, which is just 5 cents above year lows.
Today, the company announced that it has acquired two sections of land in northwest Alberta in a recent Crown Land Sale. It was successful in acquiring two sections (1280 acres) of prospective oil and gas mineral rights located in two areas of northwest Alberta on March 7th, 2012. Georox has a 45% working interest in the section acquired in the Virginia Hills area and 100% working interest in another area in northwest Alberta.
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