The properties are located in the Bakken Source System play in the Southern Alberta Basin.
The company is expected to commence initial evaluation and testing of the prospect in the second quarter of 2011 and this may involve drilling up to three wells this year.
American Eagle Energy CEO Richard Findley said that this acquisition is the first step in a three-prong strategy by the company to obtain large, contiguous acreage positions in both the Bakken Basin Facies and the Bakken Dome Facies plays.
The acquisition is scheduled to be closed by the end of this month and cash consideration given for the acreage will be about $2m.
