2010-12-15-2010-12-07

To buy 4 leases covering interests in 3 TX lease blocks covering 1,280 acres.

Archer Petroleum Corp., Vancouver, (Toronto Venture: ARK; (Pink Sheets: APEUF) plans to acquire four leases covering interests in three lease blocks in Matagorda Bay, Texas, from a privately held, Houston-based E&P.

The assets comprise 1,280 acres and grants Archer the option of acquiring three existing wellbores, an onshore processing facility and the gathering system connecting the wells to the facility. Subsequent to closing, Archer plans a re-completion program on one or more of the existing wellbores.