Cadence Resources Closes New Albany Shale Land Deal Friday February 3, 2006Land Acquisition Agreement • February 3rd, 2006 • Cadence Resources Corp • Metal mining
Traverse City, MI: On February 1, 2006, Cadence Resources Corporation (OTCBB: CDNR), through its affiliate Aurora Energy, Ltd., completed a transaction involving the acquisition of 64,000 acres of prospective New Albany Shale acreage in the Wabash Project. Aurora then sold half of its interest in its accumulated 95,000 acre lease position in the Wabash Project to an affiliate of Rex Energy Operating Corporation. The acreage gain to Cadence is 17,300 net acres in the transaction.
