Mining Oil Enters Into an AMI Participation Agreement With Jurasin Oil & Gas

On September 22, 2008, Mining Oil, Inc. entered into a participation agreement to acquire certain working interests held by Jurasin Oil & Gas, Inc. ("Jurasin") of Houston, Texas, and its affiliate, Rampant Lion Energy, LLC, in two prospects. These two prospects include one located in south Louisiana and another located in the offshore shallow waters of Mustang Island in Texas. This agreement provides that the parties enter into a long-term "Area of Mutual Interest (AMI)" for the next 10 years. As such, Jurasin will offer the Mining Oil the right of first refusal to acquire any interest that Jurasin has in future prospects in which Jurasin develops or acquires. read more

Source: Mining Oil, Inc.