Intelbahn Inc., Las Vegas, (OTCBB: INBH) plans to acquire the UnionTown coal-seam natural gas property in Kansas from JayHawk Energy Inc.
The property covers 45,000 gross acres in Bourbon County in the Cherokee Basin. Intelbahn plans to build a large-scale gas-production plant, which will feed into domestic gas wholesalers and suppliers.
As part of the deal, Intelbahn will change its name to UnionTown Energy Inc.
The deal is expected to close by Oct. 31.
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