2009-08-15-2008-11-01-2008-11-01

Transaction Type
Announce Date
Post Date
Close Date
Estimated Price
0MM
Description

Bought prospects #862, #864 and #866 in Adavale Basin.

Sentry Petroleum Ltd., Denver, (OTCBB: SPLM) has closed its acquisition of prospects #862, #864 and #866 in the Adavale Basin in Australia from privately held, Australia-based Medina Group Ltd. Sentry will fund a four-year, US$11.7-million (A$16.5-million) work program and award Medina a 7% gross overriding royalty interest. Sentry now has 6.8 million acres between the Cooper and Surat basins. Sentry president and chief executive Raj Rajeswaran says, "Over the past several months, Sentry management has concentrated its efforts on closing this acquisition. Sentry Petroleum has now become one of the largest net onshore land-holders in Australia." Sentry head of operations Geoff Weir says, "With these acquisitions we now control almost half of the entire Adavale Basin."