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Article: Exobox Announces Completion of the Acquisition of Oil & Gas Assets With $22.5 Million of Proven Reserves.
- Article from:
- Energy Weekly News
- Article date:
- November 13, 2009
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Today Exobox Technologies Corp. (BULLETIN BOARD: EXBX) (the "Company") announced that it has consummated the acquisition of 16 income producing oil and gas wells located in Ohio that produce from the Clinton and Marcellus Shale formations from a private oil and gas company (the "Assets"). These oil and gas wells have a represented PV10 reserve value of approximately $22.5 million (based on current NYMEX pricing). It is intended that the cash flow and the net worth the Company will receive from the oil and gas Assets, will assist to further develop the Company's software products and technologies. Furthermore, it is intended that owning these Assets will assist the Company ...
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