/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES./
CALGARY, June 9 /CNW/ - Petro Uno Resources Ltd. ("Petro Uno" or the "Company") (TSXV: PUP.V) is pleased to announce that it has closed a transaction within its core Viking oil resource play near Kindersley, Saskatchewan.
Under the terms of the transaction, Petro Uno along with its joint venture partner will purchase 320 acres of Viking oil land in the greater Kindersley area from a local private operator. Included with the land is approximately 10 boe/d of Viking light oil and natural gas production. This land is highly prospective for increased Viking light oil production through horizontal development, and Petro Uno has identified at least 4 horizontal drilling locations. The consideration for this transaction is $ 471,754 of which Petro Uno's share is $ 185,877 and the issuance of 100,000 common shares of Petro Uno at a deemed value of $0.50 per share.
This acquisition represents Petro Uno's continued effort to acquire high quality light oil Viking assets in the Kindersley area of West Central Saskatchewan.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
SOURCE PETRO UNO RESOURCES LTD.
For further information: For further information: PETRO UNO RESOURCES LTD., Jordan Kevol, VP Exploration, (403) 663-9849