Business
Green Mountain Development and Osprey Oil & Gas Ltd Sign Canadian Oil Field Project Development Agreement
Green Mountain Development and Osprey Oil & Gas Ltd Sign Canadian Oil Field Project Development Agreement.
About this update from Green Mountain Development Corp
[{"type":"text","content":"CARLSBAD, Calif. – November 2, 2012 - Green\nMountain Development Corp (Pinksheet: GMND), announced today that it has entered into an Oil Field Project\nDevelopment Agreement (the \"Agreement\") with Osprey Oil & Gas Ltd\nof Calgary, Alberta. The Osprey project\nopportunity was brought to GMND CEO, Robert Brehm, by long time business\nassociates who have followed the company’s progress with energy related\nprojects. \n\nThe\nOsprey development projects are in Alberta and southern Saskatchewan which lies\nalong the northern tier of the vast Bakken formation, the biggest energy pool\nto be tapped in North America for 50 years. The Bakken is a massive energy play\nthat contains hundreds of billions of barrels of oil and is transforming the\neconomy of Middle Canada. When only a\ntiny percentage is recovered, it means huge injections of jobs, capital and\nconsumer spending into parts of the Saskatchewan, Manitoba and Alberta.\n\nGreen\nMountain is assisting Osprey with preliminary development work including\nproject due diligence, financial review and onsite investigation,\nidentification of capital sources and negotiation of a joint venture (JV) deal\nstructure between investors and Osprey. Green\nMountain draws upon its prior experience and resources of its affiliate\npartners to develop a JV structure to transition Osprey drilling leases from\nthe acquisition stage to commercial production. As part of its compensation for\nbringing all parties together, Green Mountain has a participation in the Joint\nVenture.\n\nRobert\nBrehm stated, \"We are delighted to work closely with Osprey management and\ntheir affiliate vendors on this energy project and future expansions. We believe we can bring capital and\nadditional energy partners to the JV to improve project returns.”\n\nAbout Green Mountain Development Corp\n\n\nGreen Mountain\nDevelopment Corp provides project development services for capital providers\nand technology operators and distributes licensed products related to the\nenergy, agricultural and environmental sectors. \n\n\n \n\nInvestors and\nmedia contact Robert Brehm at 619/488-3744 ([email protected]) or visit the\ncorporate website www.GreenBizness.com\nfor news and updates. \n\n \n\nThe information contained in this press release\nincludes forward-l...