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Northern Explorations Signs MOU to Acquire West Texas Natural Gas Interests
On Friday May 29, 2009, 4:15 pm EDT
Related:Northern Explorations Ltd.
SCOTTSDALE, AZ--(MARKET WIRE)--May 29, 2009 -- Northern Explorations Ltd. (OTC BB:NXPN.OB - News) ("Northern," "Norex" or the "Company") is pleased to announce it has entered into an agreement with Swiss-based resource management corporation Dominus Energy AG whereby Norex intends to secure a percentage interest of Dominus' working interest in a large, gas production play located in West Texas.


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The Texas Gas Project currently consists of 22 existing production gas wells located adjacent to the town of Ozona in Crockett County, Texas. The project encompasses 12,900 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration.

Norex President, Mark Schaftlein comments, "We are very pleased to enter into this agreement. This addition to our portfolio is extremely positive and an excellent fit that will rapidly enhance our corporate goals towards becoming an innovative producer of clean energy solutions for America. We anticipate that we should be able to announce a formal purchase and sale agreement shortly. Further announcements will be made as quickly as they become available."

The Company is a reporting issuer which provides public disclosure under the Securities Exchange Act of 1934. Complete details of our agreements will be filed as required by law and made available to the public under the auspices of the Securities and Exchange Commission (SEC).