Apr 14, 2010 (M2 PRESSWIRE via COMTEX) -- Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on Paxton Energy Inc (OTCBB:PXTE). The Company recently released news as follows:
Energy company Paxton Energy Inc (OTCBB:PXTE) declared on Tuesday that the company has entered into an agreement with DEEJ Consulting LLC to acquire a full 100% interest in the Jaspers, Concho and Menard County oil wells located in Concho and Menard Counties, Texas, for a total of USD 700,000.
The total purchase price of USD 700,000 consists of USD 600,000 in cash and USD 100,000 in shares of Paxton's common stock.
Paxton expects the acquisition to immediately generate USD 50,000 in new cash flow for the company.
Additionally, the net present value of the wells after all recovery expenses exceeds USD 2.2m, according to independent engineering reports obtained by Paxton.
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