Rolland Energy acquires additionnal oil and gas assetsadmin
Rolland Energy Inc., an emerging junior oil and gas producer, announced today that it has acquired additional oil and gas assets adjacent to its Woodnorth properties where the Company currently has seven producing wells. The assets were purchased form Graceland Resources Ltd. and include a suspended well, a small building as well the assignment of a surface lease at LSD 15-1-2-28 WPM. Rolland Energy intends to re-activate the suspended well which can be tied into the Company’s existing battery and disposal operations and perform additional drilling.
The Woodnorth property is located approximately 300 kilometres west of Virden, Manitoba and has demonstrated good porosity and deposits of oil in the Lodgepole formation and in the Bakken formation. Rolland Energy recently completed a $ 1.5 million flow-through financing which will be used to drill at least three new wells on the Company’s Woodnorth property by the end of March 2007.
ABOUT ROLLAND ENERGY INC. – www.rollandenergy.com
Previously known as RVBS, Rolland Energy is an oil and gas company with subsidiary operations in information technology. Its oil and gas operations are based in south-western Manitoba and produced 31,716 barrels of oil for the year ended June 30, 2006.
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For further information
Mark Boutet, (514) 843-2385
Source: ROLLAND ENERGIE INC.; ROLLAND VIRTUAL BUSINESS SYSTEMS LTD.