Mondial Ventures Inc. (OTC Markets:MNVN) announced it has signed a definitive agreement to acquire a 50% working interest and participate in the development of a 240-acre oil lease known as the Boyette property located in Shackelford County, Texas.

The agreement calls for Mondial to provide $175,000 for the acquisition of the working interest and to prepare the ground work to conduct a 3-D Seismic study on the 240 acres. The seismic study will focus on specific Barnett shale formation characteristics that will assist in the drilling of up to two ...