AAA Energy Inc., Vancouver, (OTCBB: AAAE) plans to acquire interests in the Jiyan oil field in China from the Fangzhou Petroleum Group, an associated company of state-owned Shaanxi Yanchang Petroleum Group Co. Ltd., Beijing, for an undisclosed price. The assets include 1046.4 square kilometers on 14 contiguous claim positions in the Ordos Basin in Huanxian, Gansu province. AAA can delineate its area of interest within the field and enter a formal Sino-foreign cooperative joint venture with Fangzhou, whereby AAA can earn up to a 70% interest in the targeted area of interest.
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