International Western Petroleum acquires two multi-well productions in Texas

The company purchased 39.5% stake in the Bend Arch Lion 1A Joint Venture, and 50% in the Bend Arch Lion 1B Joint Venture.

International Western Petroleum chairman said Dr Benjamin Tran said: "This area has been one of the most active drilling areas of recent times and the existing leaseholds from this acquisition have the potential of over 20-well drilling program with approximately 5.3 million barrels of oil in place in proven reserves."

The Bend Arch Lion 1A has four producing oil and gas wells, while the Bend Arch Lion 1B has three wells. The company intends to drill three additional wells to a depth of approximately 4,700ft in June.

The Bend Arch/ Fort Worth Basin region is around 120 miles long running from Archer County, Texas to the Brown Country to the south.

International Western Petroleum said it has prospected and secured exploration projects in the region.

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