Canada's Newmex becomes Pearl E&P

By OGJ editors
HOUSTON, Mar. 2 -- Newmex Minerals Inc., Calgary, changed its name to Pearl Exploration & Production Ltd., reflecting its transition to an oil and gas exploration and development company from a mining company.

Pearl's holdings include a 50% working interest in the San Miguel heavy oil development project in South Texas, a 45% working interest in the Palo Duro basin gas resource exploration project in North Texas, and varying interests in other US oil and gas production and exploration projects.

The holdings also include a plan of arrangement to acquire all outstanding shares of Pan-Global Energy Ltd., an oil and gas company holding a 95% interest in the Onion Lake production and development project along the Saskatchewan-Alberta border near Lloydminster.

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