May 21, 2014 16:30 ET
CALGARY, ALBERTA--(Marketwired - May 21, 2014) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES
Petrox Resources Corp. (TSX VENTURE:PTC) (the "Corporation" or "Petrox") is pleased to announce that, further to its news release of March 26, 2014, the Corporation has now entered into a definitive sale and purchase agreement for the acquisition of certain oil and gas properties located in the Fletwode area of Saskatchewan. These properties include six oil producing wells with a combined producing rate of approximately 40 barrels per day.
The target closing date for this acquisition is May 31, 2014, with an effective date of April 1, 2014.
"We are very excited about this acquisition. This will be a very positive step for the development of the company. This acquisition will provide the much needed cash flow for Petrox while it continues to pursue other opportunities," said Edwin Tam, the President and CEO of Petrox.
Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this press release.
Petrox Resources Corp.Edwin TamPresident and CEO(403) 270-2290Petrox Resources Corp.Alan ChanCFO(403) 237-8330(403) 228-3013www.petroxresources.ca
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