Xtra Energy Corp. (OTC: XTPT) announced that the company will return to its core business of oil and gas and is currently in the final stages of negotiations for the acquisition of exploration and near production oil and gas properties in North America.

Xtra Energy undertook to acquire a gold mining property in Democratic Republic of Congo, Africa, in May of 2012. Now after several months of consideration, the board of directors have unanimously decided to divest of all its mining assets, and focus its efforts on acquiring oil and gas properties in North America.

The company is in discussion with another publicly traded company for the sale and transfer of its various African properties and to concentrate solely on oil and gas.