CALGARY, June 20, 2011 /CNW/ - Raimount Energy Inc. ("Raimount"), on
behalf of itself and two private companies, has retained RBC Rundle as
their exclusive agent to solicit strategic development proposals for
their 100% owned and operated deep petroleum and natural gas rights in
33.4 contiguous sections of land in the Woolford area of southwestern
Alberta. All rights below the top of the Mississippian formation will
be offered, including the "Alberta Bakken" formations (the Banff, the
Exshaw and the Big Valley) underlying Raimount lands in the heart of
the Southern Alberta Basin-'Bakken' play which extends from northern
Montana into southern Alberta.
RBC Rundle intends to solicit, and Raimount et al will consider a full
range of proposals including a purchase and sale, a buy-in or a
farm-in. Proposals ensuring the timely and orderly development of the
lands will be given priority. The Company intends to complete a
transaction before the end of the third quarter of this calendar year.
RBC Rundle will oversee the timely distribution of the Information
Memorandum and will coordinate data room access.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Raimount Energy Inc.
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