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Category: Investment, Energy, Oil, Gas, Natural Gas
Energy Stock Trading Alert; Liard Basin Junior EFL OVERSEAS (OTCBB: EFLO) Trades up Following News of Acquisition
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Visit: EFL Overseas Inc.
New York, NY, Point Roberts, WA - October 31, 2012 (Investorideas.com energy newswire) Investorideas.com, a leader in sector research for independent investors issues an energy stock trading alert for EFL Overseas Inc. (OTCBB: EFLO) following last week's news of its acquisition of additional rights and interests in the Liard basin gas field and facilities located in the Kotaneelee Area, Yukon Territory.
The stock was also featured in a recent Seeking Alpha article: An 'Off The Radar' Way To Play The Coming West Coast LNG Boom.
EFLO acquired a 30.664% interest in the Assets from Nahanni Energy Inc. and certain of its wholly owned subsidiaries ("Nahanni"). The Nahanni purchase follows EFLO's earlier acquisition of Devon Canada's interest (generally a working interest of 22.989%, with a working interest of 69.337% in one gas well) in the Assets. Upon closing the Nahanni purchase, EFLO became the largest interest holder in the Kotaneelee with a general interest of 53.67% and a working interest of 100% in one gas well.
The Assets include 30,188 acres of land, a gas dehydration plant (capacity: 70 million cubic feet per day ("MMCFD")), one water disposal well (capacity: 6,000 barrels per day), one well temporarily shut-in for plant maintenance and two suspended gas wells, flarestack, storage tanks, airstrip, roads, gathering systems, geological data, equipment, and other transportation and camp infrastructure.
Full news: http://www.investorideas.com/news/ 2012/main/ 10241.asp
EFLO Energy (OTCBB:EFLO) is engaged in natural gas exploration and production in the Kotaneelee Gas Project, located in the Liard Basin of south-eastern Yukon.
The Kotaneelee gas field, with its important conventional and unconventional resource development opportunities, combined with a 70 MMCFD underutilized gas plant and infrastructure, provide EFLO's operations significant scale and upside.
SEC filings: http://finance.yahoo.com/q/sec?s=EFLO+SEC+Filings
Contact:EFLO
Keith Macdonald
1 (403) 246-8443
Published at Investorideas.com energy newswire
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