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Rango Signs LOI To Develop Oil, Gas Assets

Phase one drilling to develop prospective Marble Falls and Barnett shale formations is slated to commence within 45 days.

Treaty Energy is currently drilling two wells on the 40 acre Mitchell lease in Taylor County, Texas, which is included in this agreement.

Xtreme has converted over US $1.2 million of debt into equity.

The acquisition increases holdings in the area to over 9,000 acres and 35 wells.

The transaction would also give the company 100% oil and gas rights to all depths on the property.

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