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Underground Energy Announces Completion of Farm-out Agreement With AmRich Energy

Underground Energy Corporation (UGE.V), which is trading near year lows, announced a definitive farm-out agreement with AmRich Energy, Inc., details of which were previously announced when the letter of intent was executed on November 8, 2012. Under the terms of the Farm-out Agreement, AmRich will farm-in on and have the right to earn up to a 75% working interest in Underground's and its joint operating partners' interest in 1,063 gross acres of the Central Southern section of the Zaca Field Extension Project in Santa Barbara County, California.

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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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