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Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources

Anglo Canadian Oil has signed a Pooling-Farm-in Agreement with Quatro Resources.

According to the pooling agreement, Anglo will offer five sections of the potential Nordegg bearing lands and Quatro will offer seven sections of the potential Nordegg and Montney bearing lands. Quatro will continue to have a 70% working interest in the pooled lands and the remaining 30% will be held by Anglo. All lands belonging to Anglo and Quatro are contiguous and are located in the Ante Creek North region of west central Alberta. Anglo also gets Montney, a second target, to drill at little or no extra drilling cost.

Anglo will drill one Montney-Nordegg land at the original Quatro acreage and therefore can earn a 75% working interest in the four sections of the pooled lands. The company considers two option wells in this agreement. When Anglo drills the first option well, it will earn a 75% working interest in the three additional sections of the lands and in the second option it earns 75% working interest in the remaining pooled lands.

It is anticipated that this well will be spud in August. The company has also drilled and cased the Dodsland 6-22 and 4-29 wells and completed the 6-22 well.

Source: http://www.anglocanadianoil.com/

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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