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Latest Headlines
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Aug 1, 2008 9:41:00 AM MST
Heavy oil operator MegaWest acquires Devils Basin prospect in Montana (MegaWest)
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CALGARY _ MegaWest Energy Corp. (OTCBB:MGWSF), an independent oil and gas company based in Calgary, has acquired control of the Devils Basin prospect in Montana.
The company, which focuses on non-conventional oil and gas projects with a focus on North American heavy oil, said Friday it will pay $150,000 in cash and 100,000 shares of the company for a 75 per cent stake in the Montana project.
The move adds the Devils Basin play to the existing Teton and Loma plays in MegaWest´s Montana focus area.
The company said it will drill a horizontal well on the prospect.
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