Richards Oil & Gas Ltd., Calgary, (Toronto Venture: RIX) has completed the purchase of 12,320 gross acres in the Lacombe area of central Alberta from a private company for C$1.6 million in cash. The purchase includes accompanying gas rights, minor conventional gas production, pipeline facilities and working interests between 16.8% and 48%. The properties have current conventional gas production of 120,000 cubic feet of net gas per day.
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