SOURCE: Timberlake Energy Solutions Inc.

March 24, 2010 10:09 ET

Timberlake Energy Solutions Inc. Signs Memorandum of Understanding to Purchase 2,600 Acre Oil Producing Lease Properties

OVERLAND PARK, KS--(Marketwire - March 24, 2010) -  Timberlake Energy Solutions Inc. (FRANKFURT: T2YA) (PINKSHEETS: TLKE) -- an exploration company focused on purchasing under valued oil and gas leases in the United States has signed a Memorandum of Understanding to acquire a 2,600 acre oil lease field located in Kansas.

Bob Bowersock, President of Timberlake, said, "The properties currently have 54 producing wells. In addition to the 54 wells, there are 42 wells that will require refurbishing. At present the wells are producing an average of 90 bbls of oil per day."

He also commented, "Timberlake has accelerated its due diligence process with the intent of reaching a swift closing date targeted for April 30, 2010." 

About Timberlake Energy Solutions Inc.

Timberlake Energy Solutions Inc. is an exploration company focused on purchasing abandoned or under valued oil and gas leases in the United States. With an experienced technical team, these oil and gas wells are refurbished and outfitted with the latest in oil and gas recovery equipment. Timberlake Energy Solutions has advanced technology to reclaim and put these wells back into production, hence increasing the well value significantly. Timberlake operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Lambton, and Kent, Counties, Ontario. In addition to its main operating focus, the company is actively exploring projects in the Appalachian and Michigan Basins.

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