JV to earn 50% interest in 7,806 acres.
Epsilon Energy Ltd., Concord, Ontario, (Toronto: EPS) plans to enter a joint venture with an undisclosed private Canadian company covering 63,360 gross acres in the Bakken oil play in southeastern Saskatchewan. Epsilon has the ability to earn a 50% interest in approximately 8,960 gross acres (7,806 net). The private Canadian company will be the operator and drilling operations on the first well are expected to begin by November. Epsilon estimates it will spend a minimum of US$5 million on this project. Epsilon president Fred Zaziski say, "We are looking forward to a successful joint venture in the Bakken oil play, which exposes us to one of the hottest oil plays in north America. This project will further strengthen and diversify our portfolio of oil and gas assets."