By OGJ editors
HOUSTON, Aug. 30 -- Ethanoil & Gas Corp. (EGC) has acquired a 100% working interest in 115,272 acres in the Torch Lake area of Saskatchewan through its acquisition of 1259529 Alberta Ltd., Sherwood Park, Alta., in an all stock deal.
EGC, a Las Vegas independent focused on the development of conventional and alternative energy assets, issued 1 million shares to John Davenport, sole shareholder of 1259529 Alberta, which owns special exploration permit EP3072, containing the exploration rights on the Torch Lake acreage east of Prince Albert.
Torch Lake is a shallow gas prospect over the northern margins of an ancient inland seaway under the Great Plains in the Williston basin.
