2009-08-19-2007-09-01-2007-09-01

Transaction Type
Announce Date
Post Date
Close Date
Estimated Price
CA$10.0MM
Description

WI

Brownstone Ventures Inc., Toronto, (CDNX: BWN) has entered a farm-in for a 25% interest in Vaca Mahuida Block in Argentina from Petrolifera Petroleum Ltd., Calgary, (Toronto: PDP) for C$10 million. The 253,000-acre block is in Rio Negro province, south of and contiguous with Petrolifera's 100%-owned Rinconada Block. Brownstone will incur 50% of actual costs of the work program, which includes reprocessing 3-D seismic on the block and drilling 12 wells. Petrolifera retains the remaining 75% interest.