X-Terra & Brownstone to Acquire new land

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Thu, Feb 25, 2010
Gas Company News
Post by Researcher , Gas Researcher

X-Terra Resources Corporation (”X-Terra”) and Brownstone Ventures Inc. (TSX VENTURE:BWN) reported that they have acquired over 150,000 hectares of additional land in the St-Laurent Lowlands between Rimouski and Riviere-du-Loup.

The press release is quoted as saying:

X-Terra is a resource company focused on acquiring and exploring energy properties in Canada. X-Terra Resources has 11,783,069 shares outstanding, a cash position of $3.8M and an investment of 2,000,000 shares of Brownstone Ventures Inc. which represents as of today $0.40 per share. Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 295km2 in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil; a 50% interest in approximately 160,000 hectares in the Quėbec Lowlands; a 15% participating interest in two off-shore Israel oil and gas blocks; and is earning interests (14-35%) in 3 Colombian blocks in the Llanos basin.

Click here to access the entire press release

Click here to access Xtera Resources Corporate Site

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