Chambers

Calgary-based Canoro Resources Ltd. has acquired a working interest in two gas properties and 15,000 additional acres in the Chambers area of western Alberta from Rosetta Exploration Inc. for approximately $1 million. Following this transaction, the company said it sold a portion of its working interest to Aurado Exploration Ltd. Canoro said the properties include two producing gas wells, with an additional zone completion planned. The company’s net interest in the wells is 4% and 3.5% respectively. An independent engineering report indicated that Canoro’s interest in the producing wells will generate average annual cash flow of $200,000. The balance of the purchase price will be paid out of a portion of monthly cash flow from the properties.