Bakken Resources, Inc. Announces Sale of Mineral Interests
HELENA, Mont., Feb. 6, 2014
HELENA, Mont., Feb. 6, 2014 /PRNewswire/ -- Bakken Resources, Inc. (OTCQX:
BKKN) ("BKKN"), announces the sale of 767 +/- net mineral acres in McKenzie
County, North Dakota, to an undisclosed buyer. The property sold for $10,250
per net mineral acre for a total of $7,871,248. BKKN retains a two percent
(2%) royalty on the sold assets. The sold assets were purchased by BKKN in
November 2010 for an aggregate amount of $1,535,000.
A portion of the sale proceeds will be escrowed pending title review.
"We are very pleased about this win-win transaction," notes Val Holms, CEO.
"Proceeds from this transaction will allow us to seriously explore several
other opportunities we are currently evaluating. We continue to holda 2%
royalty interest in the assets we sold and also receive royalties on our
remaining 1,600 +/- net mineral acres located in Bakken region."
ABOUT BAKKEN RESOURCES, INC.
BAKKEN RESOURCES, INC. is an oil and gas exploration and development company
with activities currently focused on the acquisition of mineral leases in
North Dakota and Montana and the development of potential EOR technologies.
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, including among others, statements and
projections regarding BKKN's future financial position, operations,
performance, business strategy, returns, budgets, reserves, levels of
production and costs and statements regarding the plans and objectives of
BKKN's management for future operations, are forward-looking statements. BKKN
typically uses words such as "expect," "anticipate," "estimate," "project,"
"strategy," "intend," "plan," "target," "goal," "may," "will" and "believe" or
the negative of those terms or other variations or comparable terminology to
identify its forward-looking statements. In particular, statements, express or
implied, concerning BKKN's future operating results and returns are
forward-looking statements. Forward-looking statements are not guarantees of
performance. BKKN makes no representation of the accuracy of any information
presented or derived from any third party sites or information.
For further information please contact
Jim Kyle, Shareholder Liaison: (727) 265-7007
SOURCE Bakken Resources, Inc.
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