Indigo-Energy Inc., a junior explorer that focuses on prospects located in the Upper Devonian sand formations of Kentucky, Pennsylvania and West Virginia, plans to spend $686.4 million to develop about 135,000 acres in the Illinois Basin, an emerging natural gas play that straddles portions of southern Illinois, southwestern Indiana and western Kentucky. The Illinois Basin covers about 60,000 square miles. Indigo, based in Henderson, NV, obtained the funds through a loan agreement with BJ Petro Inc., a Nevada corporation. Indigo also won mineral rights in Greene County, PA, and in Monongalia County, WV.

Junior Canadian-based explorer Park Place Energy Corp. has acquired 100% interest in 1,280 acres of land in the emerging Montney natural gas play in the Horn River Basin, which straddles the British Columbia (BC) and Alberta border. The leasehold is adjacent to the Vancouver, BC-based producer’s Eight Mile property in northeastern BC. At its Eight Mile leasehold Park Place is partnering with Terra Energy, which has operations across the Western Canadian Sedimentary Basin. Park Place said it is continuing to review recently acquired 3-D seismic data on the Eight Mile property, and said decisions would be made as to where to drill additional earning and step out wells in the upcoming months.

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