MAB Resources LLC plans to acquire three oil and gas leases covering approximately 6,400 net mineral acres in Box Elder County, Utah, from American Oil & Gas Inc., Denver, (Amex: AEZ) and various third parties for a total of $1.2 million in cash. The deal is expected to close in December. The leases are in Utah's Great Salt Lake Basin in the West Rozel Field. American Oil & Gas will retain an overriding royalty interest of approximately 2.65% and will receive 48 cents for each barrel of hydrocarbon produced and sold.
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