2012-10-17 23:24:33 -
Calgary, Alberta - Jadela Oil Corp. ("Jadela") (TSXV: JOC) wishes to announce that it has completed the sale of certain of Jadela's Eagle Ford shale mineral rights located in Maverick County, Texas in accordance with the terms of a purchase sale and exploration agreement announced on August 24, 2012. In addition to the assets acquired on September 28, 2012 as described in Jadela's press release dated October 1, 2012, Strata-X, Inc., a subsidiary of Strata-X Energy Ltd. (TSXV.SXE), has acquired an undivided 17.5% interest in 20,985 gross acres (approximately 15,200 net acres) of leased mineral rights and optioned mineral rights ("Option Assets") from Jadela Oil (US) Operating LLC, a wholly owned subsidiary of Jadela. Jadela Oil (US) Operating LLC will
retain a 25% co-ownership interest in the Option Assets (approximately 6,246 gross acres and 3,800 net acres) and a 65% co-ownership interest in 660 net acres and related assets that was earned or acquired by Jadela upon drilling the El Indio #1H well.
Jadela is a junior oil and gas exploration company focused on and exploring and developing its Eagle Ford assets located in Maverick County, Texas.
For further information, please contact:
Gregory J. Leia, President and CEO
Jadela Oil Corp.
Suite 1510 - 777 - 8th Street SW
Calgary Alberta T2P 3R5
Tel: (403) 265-7544
Fax: (403) 265 4138
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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