Border Petroleum Inc.
NEX BOARD : BOP.H

October 21, 2009 18:28 ET

Border Announces Closing of AMI and Acquisition Transactions in Red Earth, Alberta Area

CALGARY, ALBERTA--(Marketwire - Oct. 21, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Border Petroleum Inc. ("Border" or the "Corporation") (NEX:BOP.H) today announced confirmation that it has closed the previously announced September 12, 2009) area of mutual interest in Red Earth, Alberta (the "AMI") and purchase agreement with an arm's length private Alberta company ("PrivateCo") whereby Border and PrivateCo will jointly pursue oil and gas prospects in the established AMI.

The consummation of this transaction opens up three new locations 100% owned by Border in which it will perform re-entry completions targeting the slave point light oil formation. In addition to the lands acquired in this transaction, Border has 3 other locations currently under farmout agreement in the area bringing the total winter re-entry program to 6 wells. These recompletion activities in the AMI will be Border's primary focus in the first quarter of 2010. Border will continue its evaluation of additional reentry opportunities in the area.

About Border

Border is a Calgary, Alberta based oil exploration company.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Border will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Border.

Neither TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Border Petroleum Inc.
    Tyler Cran
    President
    (403) 538-8441