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Kallisto Energy Corp. has entered into a Farmout and Settlement Agreement in which the Company will participate in the drilling of up to two wells targeting Cardium light oil on certain lands in the Minnehik - Buck Lake area of Alberta.
Kallisto will pay 62.5% of the costs to drill, complete and equip or abandon the wells, thereby earning a 75% working interest in up to two sections of land.
Kallisto expects to spud the first well at Minnehik by July 1, 2013.
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