HOUSTON, TEXAS - October 24, 2012 (www.investorideas.com energy stocks newswire) EFL Overseas Inc. (OTCBB: EFLO) ("EFLO") is pleased to announce its acquisition of additional rights and interests in the Liard basin gas field and facilities located in the Kotaneelee Area, Yukon Territory, Canada (the “Assets”). Effective October 17, 2012, EFLO acquired a 30.664% interest in the Assets from Nahanni Energy Inc. and certain of its wholly owned subsidiaries (“Nahanni”). The Nahanni purchase follows EFLO’s earlier acquisition of Devon Canada’s interest (generally a working interest of 22.989%, with a working interest of 69.337% in one gas well) in the Assets. Upon closing the Nahanni purchase, EFLO became the largest interest holder in the Kotaneelee with a general interest of 53.67% and a working interest of 100% in one gas well.
- Published: 24 October 2012
- Written by Investor Ideas