Monday, June 13, 2011

Firm says deal with land grant opens area to drilling

Tom Sharpe | The New Mexican
Posted: Sunday, June 12, 2011

"A Canadian firm says it has a deal with a land-grant association that could open up parts of Rio Arriba County to petroleum drilling that previously were restricted by questionable land titles.

Wind River Energy Corp. says it has agreements with the board of trustees of the Tierra Amarilla Land Grant that could mean billions of barrels of oil, mostly from shale deposits that require "fracking."

"Wind River believes that the waiver will resolve a 150-year-old historical title cloud that has constrained oil and gas development on the Tierra Amarilla Land Grant," a recent news release says.

The Vancouver, British Columbia-based company has issued three news releases since late last year, announcing it has acquired from a Texas firm a waiver and an indemnification agreement with the Tierra Amarilla Lane Grant board, which was paid $233,979.

Wind River's Denver-based president and chief executive officer, Jack Steinhauser, said the news releases are public disclosures required by the regulations of the Toronto Venture Exchange, where Wind River's stock is traded." More

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