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Winnepeg-based Nordic Oil and Gas reached an agreement in principle last week with Desoto Resources to acquire an 80% interest in Desoto's interests in natural gas production, natural gas leases, certain associated equipment and natural gas pipelines located in or around the Joffre area of Alberta. The Joffre area is approximately 20 miles east of the City of Red Deer, Alberta. The agreement is dated Aug. 22, and the transaction is valued at C$875,000 (US$599,905).

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