Northern Explorations Ltd., Scottsdale, Ariz., (OTCBB: NXPN) has acquired a 50% working interest in two California gas projects from an undisclosed seller for $376,692 in cash.
The projects are in the Central Valley, and the company is now working with the operators towards finalizing the planning of the first two gas wells for the 2009 development program.
The first gas well is planned to target seismic data that indicates 50 feet of pay zone thickness at an 8,000 foot depth.
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