Miller Petroleum, Inc. (OTC:MILL Has announced the acquisition of over $300 million Alaskan oil and gas assets from Pacific Energy Resources. The assets were acquired from a Chapter 11 US Bankruptcy proceeding Delaware. The company acquired 13.2 million barrels of oil and 15.5 BCF of natural gas which included a total of proved reserves of 5.6 million barrels of oil and 3.7 BCF of Natural Gas.
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Miller Petroleum, Inc. is focused on the exploration for, and production of oil and natural gas. The company uses seismic data and other technologies for geophysical exploration and the development of oil and gas wells. The company held 14,489 acres of oil and gas leases as of April 30, 2009.
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