RESOURCE EXPLORATION <REXI> IN DRILLING PACT
Resource Exploration Inc said it has
agreed to let <Langasco Energy Corp> drill 50 oil and
natural gas wells on its Clinton Sandstone formation within its
Tuscarawas and Harrison County, Ohio area of operation.
    Resource said it would receive a cash payment and an
overriding royalty interest on oil and gas production from
wells drilled on the property.
    Resource said gas produced from the property will be
transported through its existing pipeline. Also, Resource said
it will provide service work to complete the wells and it will
operate the wells after they are completed.
 Reuter
