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Western Plains to Acquire Additional Heavy Oil Assets in the Maidstone Area: report

Western Plains Petroleum (WPP.V) said on Monday that it has entered into a purchase and sale agreement for the arm's length acquisition of a 100% net interest in 320 acres of petroleum and natural gas rights located in the Maidstone area of west-central Saskatchewan from Petrostar Petroleum Corporation for the cash consideration of $750,000, subject to industry standard closing adjustments, with an effective date of December 1, 2010, according to Financial Post.

WPP shares were unchanged at 28 cents on Monday afternoon.

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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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