Arctic Hunter Signs Letter of Intent for the Asset Purchase to Acquire a 25% Working Interest in Three (3) Heavy Oil Wells with Brahma Resources Ltd. Situated Near Lloydminster, Saskatchewan ____________________________________________________________________________________
ARCTIC HUNTER ENERGY INC.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8 Telephone: (604) 681-3131
NEWS RELEASE
November 12th, 2019 TSX-V Trading Symbol: AHU
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ARCTIC HUNTER SIGNS LETTER OF INTENT FOR THE ASSET PURCHASE TO ACQUIRE A 25% WORKING INTEREST IN THREE (3) HEAVY OIL WELLS WITH BRAHMA RESOURCES LTD. SITUATED NEAR LLOYDMINSTER, SASKATCHEWAN
____________________________________________________________________________________ VANCOUVER, B.C. - Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) announces that it has negotiated and entered into a non-binding letter of intent for a 25% working interest in a three well heavy oil asset purchase, pursuant to which the Company will acquire three (3) fully-equipped heavy oil wells from Brahma Resources Ltd., situated near Maidstone, Saskatchewan for the approximate purchase price of CDN$75,000. The transaction will be subject to final due diligence, a site visit and the usual industry adjustments, such transaction having an anticipated completion date of on or before January 15, 2020.
ABOUT ARCTIC HUNTER – OIL AND GAS PRODUCTION
The Company is a Canadian Oil & Gas exploration and development company that identifies, and finances the acquisition, exploration and development of oil and gas assets primarily situated in Western Canada and the San Joaquin Valley, California. The Company is a junior heavy oil producer in the greater Lloydminster area of Alberta & Saskatchewan. The Company is constantly reviewing future production and exploration opportunities and selective property acquisitions and identifying low risk exploration drilling opportunities situated in Canada, the United States and abroad.
The Company has qualified management and has an Oil & Gas team of professionals seasoned in production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through the selective acquisition, exploration and development of petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO Arctic Hunter Energy Inc.
Tel: (604) 681-3131 [email protected]
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