PetroShale Inc. (Toronto Venture: AQX) announced that PetroShale (US) Inc., a wholly-owned subsidiary of PetroShale, has acquired production and proven developed reserves in Montrail County, N.D. in the Williston Bakken.

The $4.5 million purchase price is for "borehole only" production of 63 BOE/d, estimated proven net reserves of 172,526 BOE and an IRR of 14% at $90 WTI and a $7 differential.

The majority of the production in this area is operated by Slawson Exploration. The balance of production not operated by Slawson Exploration is predominately operated by EOG and Whiting.