FSC / Press Release
Enfield Exploration Corp. Announces Letter of Intent to Acquire Six Petroleum
and Natural Gas Leases
Vancouver, British Columbia CANADA, February 07, 2014 /FSC/ - Enfield
Exploration Corp. (EXP - CSE),(the "Company" or "Enfield") announces that it has
entered into a letter of intent with Richfield Oils Inc. for an option to
acquire a 100% interest in six petroleum and natural gas leases in Alberta (the
"Leases"), subject to a gross overriding royalty of 2 - 5%. Total consideration
for the acquisition is expected to be CDN $600,000. The leases total 258.8
hectares and are located in the Southern Alberta Bakken trend. The lands are
adjacent to the Dee Three Ferguson Pool and are located near two recent tests
wells one of which flowed 1500 barrels of oil per day and the other which flowed
1150 barrels of oil per day. Many of the terms of the letter of intent are
non-binding. The parties have agreed to work towards completing a definitive
agreement by March 17, 2014.
Enfield Exploration Corp. is engaged in the acquisition, exploration and
development of mineral resources and oil and gas opportunities. Enfield has the
right to acquire mineral interests covering approximately 486 hectares in
central Yukon Territory, and is currently evaluating oil and gas opportunities
Further information about the Company is available under its profile on the
SEDAR website www.sedar.com and on the CSE website www.thecse.com.
For further information, please contact:
President & Chief Executive Officer
Enfield Exploration Corp.
The CSE has not reviewed, nor approved or disapproved the content of this press
This press release may include forward-looking information within the meaning of
Canadian securities legislation, concerning the business of the Company.
Forward-looking information is based on certain key expectations and assumptions
made by the management of the Company, including future plans for the
exploration and development of the mineral properties of the Company. Although
the Company believes that the expectations and assumptions on which such
forward-looking information is based are reasonable, undue reliance should not
be placed on the forward-looking information because the Company can give no
assurance that they will prove to be correct. Forward-looking statements
contained in this press release are made as of the date of this press release.
The Company disclaims any intent or obligation to update publicly any
forward-looking information, whether as a result of new information, future
events or results or otherwise, other than as required by applicable securities
To view the press release as a PDF, please click on the following link:
Source: Enfield Exploration Corp. (CNSX: EXP)
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-0- Feb/07/2014 14:30 GMT
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