2008-10-10-2008-09-04

CANCELED deal to purchase co. with 62% interest in 13,000 Barnett shale acres in Parker, Jack, Palo Pinto counties, TX.

Vortex Resources Corp., Beverly Hills, Calif., (OTCBB: VTEX) reports it has canceled its deal with Blackhawk Investments to purchase property in the Barnett shale. As a result, Vortex released Trenergy Development LLC principal Jason Lacewell from a previously announced consulting contract. The company also announced that pipeline construction for two of its Texas properties, wells 42-105-40868 and 42-105-40820, has been completed. Vortex expected gas delivery to begin in mid-December. Vortex chief executive officer Yossi Attia says, "We are energetically progressing in starting production in our Crockett County, Texas, leases. Although there are many reasons why the Blackhawk transaction expired, we are relieved that we will be conserving our resources in this tough financial climate and will have the opportunity to consider higher quality acquisitions as the industry players continue to shed assets."