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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (10388)	12/8/2014 8:44:28 AM
From: Goose94	Read Replies (2) \| Respond to of 203026

Archer Petroleum (ARK-V) and Cardiff Energy (CRS-V) signed a letter of intent participation agreement. Dec 8, '14 - NR Cardiff Energy Corp. has signed a letter of intent with Archer Petroleum Corp. where Archer intends to form a participation agreement on a three-well drill program in Ballinger, Tex. Archer will finance 33 per cent of the cost on the next three wells to earn a 25-per-cent working interest in each well. The wells will be drilled within the next 60 days. A definitive agreement will be finalized by Dec. 15, 2014. Management of Cardiff Energy will be in Ballinger on Wednesday, Dec. 11, 2014, and will work toward arranging the first three drill locations for the upcoming drill program. Management will also assess the completion of the Bearcat No. 4 well. The Gardner formation will be evaluated for a horizontal radial entry to free up hydrocarbons identified in the logs. Jack Bal, president of Cardiff Energy, states: "We are pleased Archer Petroleum Corp. is eager to participate in the next three wells. We look forward to commencing this next phase of our development."