Tyche Energy Corp. Update on Acquisition of Ontario Oil & Gas Assets
Tyche Energy Corporation is pleased to report that as a result of its successful bid for the outstanding shares of Tyche Energy Inc., it has acquired varying working and royalty interests in producing and non-producing oil and gas properties located in southwestern Ontario and northeastern B.C.
Producing lands acquired include an 85% operated WI in one (l) gas well located in Harwich Township Kent County, a 38.48% non operated WI in one (I) producing gas well located in Sombra Township, Lambton County, and a 1.95 % gross overriding royalty interest in one (1) producing horizontal oil well located in Romney Township Kent County.
Non producing interests acquired include a 50% non-operated WI in approximately 5,900 acres adjacent to a horizontal oil well, a 48.97% operated WI in approximately 1,200 acres of leases in Sombra Township, Lambton County and a 10% non-operated WI in approximately 2,500 acres of exploration licenses in the Caribou-Sikanni area of northern BC.
About Tyche Energy Inc.
Tyche Energy Inc. operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Lambton, and Kent, Counties, Ontario. In addition to its main operating focus, the Company is actively exploring projects in the Appalachian and Michigan Basins.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward- looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.
Source: Tyche Energy Corporation