LONDON (Alliance News) - Highlands Natural Resources PLC on Monday said it has acquired exploration licences in the Williston Basin in North Dakota.
It has acquired the licences, on which no further details were provided, for USD19,000 in cash.
"This land has been acquired at an extremely low cost and due to its location, it fits well with our strategy to take advantage of the oil price environment to acquire quality assets," said Chief Executive Robert Price.
"We will provide further information in due course regarding the land and its potential," he added.
Shares in Highlands are currently suspended.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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