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Point Loma Resources acquisition increases oil and liquid production by 70%

Point Loma Resources (CVE:PLX) CEO Terry Meek tells Proactive Investors Point Loma acquired oil and natural gas liquid assets in the West Central area of Alberta in a receivership deal with a private company. The deal increases potential drilling opportunities.

The property would add net operating income of C$1.3mln annualized and adds production of around 450 barrels of oil equivalent per day.

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