Quest Resource Corp., Oklahoma City, (Nasdaq: QRCP) plans to acquire Pinnacle Gas Resources Inc., Sheridan, Wyo., (Nasdaq: PINN) for $205 million in stock. Pinnacle holds coalbed-methane (CBM) acreage in the Powder River Basin in northeastern Wyoming and southern Montana as well as in the Green River Basin in southern Wyoming. Assets include interests in approximately 478,000 gross (332,000 net) acres, approximately 94% undeveloped. Estimated net proved reserves are 25.9 billion cubic feet.
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