talons new partner in olmos.

This looks like one of Talons new Partners in the Olmos.

An extract from the article dated 26th/11/2013.

Terrace Energy has reached an agreement to aquire 33.34% w/i in an initial tract of 199.05 net mineral acres in exchange for a payment of US$33,173.00 and funding its proportionate share of an initial horizontal well into the olmos formation at an estimated net cost to the company of $1.8m.

Upon successful completion of the initial well,the company will have 90 days in which to exercise its option to aquire at least 33.34% w/i in an additional 3416.95 net mineral acres for an additional cash payment of approximately US$700,000.

In addition to the initial well,the company expects that this acreage position will support 10-20 additional drilling locations in the olmos formation.

An experienced partner,with Blackbrush Oil and Gas as their partner in other areas of the Olmos play.

All the best.