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Exxel Energy Corp. announces Galaxy's termination of the letter of intent for purchase of Galaxy's 25% interest in the Rifle Creek Project
Exxel Energy Corp. announces Galaxy's termination of the letter of intent for purchase of Galaxy's 25% interest in the Rifle Creek Project.
About this update from Xxl Energy Corp.
[{"type":"text","content":"\n\n\n\n\n(TSX-V Symbol: EXX)\n\nVANCOUVER, Oct. 23 /CNW/ - Exxel Energy Corp. (\"Exxel\") (TSX-V Symbol:\nEXX) today announced that Galaxy Energy Corporation (\"Galaxy\") (AMEX Symbol:\nGAX) had provided notice of termination of the non-binding letter of intent\ndated September 28, 2006 between Exxel and Galaxy (the \"LOI\") for the purchase\nof Galaxy's undivided 25% working interest in the Garfield County, Colorado,\nproject known as Rifle Creek (the \"Rifle Creek Project\").\nExxel Energy USA Inc., Exxel's wholly-owned subsidiary, will continue to\nown a 75% working interest in the Rifle Creek Project and Galaxy, through its\nwholly-owned subsidiary Dolphin Energy Corporation, will continue to own the\nremaining 25% working interest in the Rifle Creek Project. The Rifle Creek\nProject consists of a total of approximately 6,300 net acres in the Piceance\nBasin, Garfield County, Colorado, USA.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n\n","length":1086,"tagName":"div"}]