Georox Resources Inc. signed participation agreement for Coteau Lake (Saskatchewan)

Georox Resources Inc. signed participation agreement for Coteau Lake (Saskatchewan)

Kelowna, British Columbia, Canada, 9. More 2012: Georox Resources Inc. ("Georox" or the "Company") (GXR:TSX-V; OF6A:FROM) is pleased to announce, that there is a participation agreement with respect to a farm-in agreement for land in the Signed Coteau Lake region in southeastern Saskatchewan and northeastern Montana.

The investment in this farm-in agreement covers three and one-fourth land (2080 Acre), the potential for the development of high performance oil from the Mississippian (30 Grad API) have. Georox is 100 % of 85 %-Portion of the contractor to the cost of sinking of, Completion of investigation and take over a horizontal exploration well, a working interest of 31,875 % prior to payment or. a funding contribution of 21,25 % the quarter following the payment of the property, where the test hole was drilled, and to get another quarter of land.
After receiving his first participation in the farm-land Georox can participate in drilling option, for each order placed down hole, a working interest of 31,875 % prior to payment or. a funding contribution of 21,25 % after payment to another land with an area of 320 To obtain Acre. This requires Georox 42,5% the cost of sinking of, Completion and take such other drilling equipment.

The contractually specified depth of the first hole is about 1.975 Meter, while the cost of the sinking of Georox, Completion and inspection of the hole to about 1,565 Million $ amount. The hole must be directly after the middle of May Tauphase 2012 be drilled. Three (3) Another drill points were identified; There are following the sinking of the investigation and further drilling the first hole will be drilled.

This farm-in agreement will be considered by the management as an important strategic step for the company's growth and offers the possibility Georox, to participate in an oil exploration opportunity with great potential.

For more information, contact:
Burkhard Franz, President & Chief Executive Officer
Such: +1-250-712-2213
Fax: +1-250-712-2215
Website: www.georoxresources.com

Cautionary Note:

Neither the TSX Venture Exchange nor its Regulation Services Provider (according to the definition of the term in the policies of the TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this release.

No stock exchange, Securities commission or other regulatory authority has approved the information contained in this press release or discarded.

Forward-looking statements

This press release contains forward-looking statements about future operations of the company, and other statements, are not based on historical facts. Forward-looking statements are often "be" with terms such as, "Could", "Should", "Accept", "Expect" and similar expressions described. All statements contained in this press release, are not historical facts constitute, – u.a. Statements about the future plans and objectives of the company – are forward-looking statements involve risks and uncertainties such as. It can not be guaranteed, that such statements will prove to be accurate, as. Actual results and future events could differ materially from such statements. Important factors, which may cause, cause actual results to differ materially from the expectations of the Company, are exploration risks, at regular intervals in the reports, the securities regulatory authorities to be submitted, described are.

Readers are specifically noted, that the assumptions, which were used in the preparation of such information, could prove to be incorrect. Events or circumstances could cause, that actual results may differ due to numerous known and unknown risks, uncertainties and other factors of the forecasts. Many of them are outside the control of Georox. Consequently, we can not guarantee, that forward-looking statements will be realized; Readers are therefore strongly advised to, not to rely on forward-looking information. Such information, although they were considered by the company's performance at the time of its creation as appropriate, may prove to be wrong. Actual results could differ materially from anticipated results. Forward-looking statements in this press release are expressly qualified by this cautionary note. The forward-looking statements in this release are valid at the date of this press release and assumes no liability Georox, any of the forward-looking statements as a result of new information, future events or other reasons, to publicly update or revise; unless, it is required by applicable securities laws expressly.

For the correctness of the translation is any liability assumed! Please note original English message!

Which filings can be found at:
http://www.irw-press.at/press_html.aspx?messageID=25057

This entry was posted in News of the corporations, the rare earth metals and and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply