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Raimount Energy Looking for Strategic Partners for Deep Bakken Plays

Raimount Energy Inc. (RMT.V) is steady at $2.60 a share this morning after saying it has retained RBC Rundle to solicit strategic development proposals for the deep petroleum and natural gas rights it shares with two privately held firms in the Woolford area of southwestern Alberta.

The proposed deal would offer all rights starting at the top of the Mississippian formation and below, including the Alberta Bakken formations underlying Raimount lands extending from northern Montana into southern Alberta. The Company intends to complete a transaction before the end of the third quarter of this calendar year.

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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.

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