Vortex Resources to Gain Texas Natural Gas Assets

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Vortex Resources Corp., which changed its name from Emvelco Corp. on Tuesday, said Thursday that it has signed an agreement that will lead it to acquire undeveloped natural gas reserve leases in two Texas counties.

In the agreement, London, England-based Blackhawk Investments Ltd. will first exercise its exclusive option to acquire another company, which holds mineral lease rights covering approximately 13,000 acres of the Barnett Shale area. Blackhawk then will transfer the leases to Vortex.

Beverly Hills-based Vortex, with operations in West Texas, focuses on the exploration and production of oil, natural gas and minerals.

“We are pleased that we will be joining a list of distinguished companies such as Chesapeake, Devon, XTO and Quicksilver operating in the Barnett Shale,” said Chief Executive Yossi Attia in a statement. He said the acreage is capable of supporting 108 wells.

Vortex shares were up 11 cents, or 10 percent, to $1.26 in morning trading on the Over-the-Counter Bulletin Board.

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