Article: St. Mary Signs Agreement to Acquire Oil & Gas Properties From Choctaw II Oil & Gas, Ltd. and Provides Operations Update.

DENVER, Oct. 4 /PRNewswire/ --

St. Mary Land & Exploration Company (Nasdaq: MARY) today announced that through its wholly owned subsidiary Nance Petroleum Corporation it has signed a Purchase and Sale Agreement to acquire oil and gas properties from Choctaw II Oil & Gas, Ltd. of Houston, Texas for $41 million in cash, which St. Mary currently plans to obtain under its existing long-term revolving credit facility. The properties are primarily in the Williston Basin of Montana and North Dakota and the Green River Basin in Wyoming. The properties currently produce an estimated 1,200 barrels of oil and 4,600 Mcf of gas per day. The acquisition is expected to close ...

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