Peninsula Energy Limited (PEN) (thru its wholly owned subsidiary Strata Energy Inc) has acquired 240 acres covering the site of the proposed Lance Projects Central Processing Plant (CPP). This acquisition ensures that the necessary owner’s consent to mine required by the Wyoming Department of Environmental Quality (WDEQ) is now finalised and the WDEQ is able to issue the Permit to Mine at the time Strata lodges the financial surety.
In addition to acquiring the CPP site the Company has also taken ownership of the Oshoto reservoir and the rights to access the water resource for the well field and CPP operations. In addition it has also acquired 100% of the mineral rights over the property and the surface and minerals rights to a further 1,000 acres to the north of the Ross Production.
Peninsula Executive Chairman stated “The acquisition of the central processing plant site and the rights to its associated water resources finalizes the outstanding external issue for the WDEQ, ensuring that the Permit to Mine can be issued.”
The Board wishes to acknowledge the efforts of Peninsula/Strata team and in this case particularly those of Strata Energy’s Commercial Manager Mr. Mike Butcher in continuing to exceed expectations in delivering the necessary steps to complete the permitting process at the Ross Production Unit CPP.