Doxa Energy Ltd. (TSX VENTURE:DXA)(OTCBB:DXAEF)(FRANKFURT:5D0) ("Doxa" or the
"Company") announces that the Company has received an extension from Dynamic
Production, Inc. of the Letter of Intent ("LOI") previously announced (See Press
Release April 28, 2011). The LOI provides that Doxa can elect to acquire up to
twenty percent (20%) interest in existing leases, as well as an ongoing lease
acquisition program in Alfalfa, Garfield, Grant and Kay Counties, Oklahoma. As
previously disclosed, Dynamic Production, Inc. of Fort Worth, Texas is managing
the project and has a stated goal of acquiring approximately 18,000 acres within
the play, or 3,600 net acres to the Company. The extension provides that Doxa
will have until June 24, 2011 to exercise the option to participate. The
Mississippian Oil Play is an emerging horizontal play that has the potential to
become one of the most profitable domestic onshore oil plays today, and is led
by Chesapeake Energy Corporation, SandRidge Energy, Inc. and Eagle Energy of
Oklahoma, LLC.


The Company intends to use the proceeds from the recently announced $2,000,000
private placement (See Press Release June 13, 2011) to exercise the option with
Dynamic Production, Inc.


On behalf of the Board of Directors

John D. Harvison, President, Chief Executive Officer

Statements in this press release other than purely historical information,
including statements relating to the Company's future plans, objectives or
expected results, constitute forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to the risks and
uncertainties inherent in the Company's business, including risks inherent in
oil and gas exploration and development, and uncertainties in connection with
anticipated commodity prices for oil and natural gas, growth of worldwide market
demand, exploration capital requirements, length of asset life and availability
of qualified personnel, among others As a result, actual results may vary
materially from those described in the forward-looking statements.


Doxa Energy (TSXV:DXA)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Doxa Energy Charts.
Doxa Energy (TSXV:DXA)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Doxa Energy Charts.