QualityStocks.net News – Boundary Bay Resources Inc. (BBRE.PK) Signs Definitive Agreement with OilTec

We would like to highlight Bay Resources, Inc. (PINKSHEETS: BBRE). The company is a dedicated to building a competitive oil and gas company that is cash flow positive. The Company intends to acquire working interests in established oil and gas production companies (Public or Private). Funds generated from this domestic production will be used to acquire premium oil and gas properties with both proven reserves and upside exploration potential.

In the Company’s news today,

Boundary Bay Resources Incorporated proudly announced that on March 22, 2008 a definitive agreement was executed with OilTec LP (”OTL”). In the agreement, Boundary Bay Resources acquired 40% working interest of OTL’s leasehold interest in the already producing Chevron Fee # 3 well which is located in Marion County, Oklahoma in exchange for $75,000. The Well is already producing to a depth of 6,400 feet. Boundary Bay has also acquired the right to purchase a 25% working interest in any subsequent wells drilled at the Chevron Fee property that are reworked and/or re-completed or re-entered for a pro rata share of cost.

When this agreement was in the developing stages, President and CEO of Boundary Bay, Lee Borschowa, said that, “this letter of intent illustrates that we are committed to our strategic plan to continue in the acquisition of working interests in established oil and gas properties.” Within two weeks from the initial letter of intent to purchase, the deal was completed and BBRE was locked in to this low cost, high reward opportunity.

Boundary Bay Resources was recently featured by HotOTC in an article describing the “extremely bullish sector” and the current state of oil. They emphasize the fact that the US is an oil using giant, which accounts for nearly 25% of the world’s oil consumption, which is a perfect market for the small company as they continue to grow through acquisition. With world consumption expected to grow by 1.3 million barrels per day in 2008 and 2009, the market has virtually endless potential.

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