By OGJ editors
HOUSTON, Sept. 22 -- Lions Petroleum Inc., Denver, signed a letter of intent to acquire from an undisclosed seller 26,635 acres of oil and gas leases to all depths in southeastern Kansas for $3 million.
Included are 26 coalbed methane wells in various stages of production and completion and 20 miles of 6-in. pipeline with compression and a tap into a trunk line.
The transaction has 90 days to close.
A second letter of intent covers acquisition for $250,000 of 1,336 acres of oil and gas leases that contains 14 coalbed methane wells in various stages, with closing to occur in 120 days.