StockMarketWire.com - NU-Oil and Gas has agreed heads of terms with PVF Energy Services Inc under which they will work together to establish commercial production operations on the company's licence PL2002-01(A).

That licence contains the Garden Hill oil discovery, in Western Newfoundland.

It is anticipated that the Heads of Terms will lead to the Parties entering into a detailed Definitive Operating Agreement within 120 days.






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