A subsidiary of Denver-based junior independent Galaxy Energy Corp., has increased its working interest in its coalbed methane (CBM) properties near Sheridan, WY after purchasing about 3,200 acres at the Buffalo Run prospect.

Galaxy subsidiary Dolphin Energy acquired an additional 35% working interest in the Buffalo Run prospect, giving it 100% control of the property and 100% working interest in 44 existing wells. Additionally, the company acquired another 26% working interest in approximately 323 acres of the Buffalo Run East lands. Both properties were acquired for a total of $592,500.

“We are very pleased with the progress of our operations in Wyoming thus far,” said Cecil Gritz, Galaxy’s COO. He said he expects the company’s drilling and completion activities in Wyoming to “continue at a similar pace” through the summer. “We have staked 44 new well locations on our Pipeline Ridge prospect, near Sheridan, and barring any major delays we look forward to commencing drilling operations on these wells within the next 60 days.”

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