Oklahoma Oil Property
The TSX Venture Exchange has accepted for filing a memorandum of understanding dated March 27, 2009, between Encore Renaissance Resources Corporation and Nitro Petroleum Inc., whereby Encore will acquire a 12.5-per-cent working interest in oil and gas properties located in Pottawatomie county, Oklahoma. In consideration, the company will pay $200,000 (U.S.) to Nitro and Nitro has an option to buy back a 12.5-per-cent working interest within one year from closing for $250,000 (U.S.) from the company.