Intelbahn (UnionTown Energy Inc.), www.uniontownenergy.com – announced today signage of a letter of intent with JayHawk Energy Inc. to purchase the UnionTown Project, a potentially ideal coal seam natural gas candidate in Bourbon County, Kansas.
Intelbahn is a publicly traded and fully reporting American Issuer with proficiencies in oil and gas, as well as biometrically enhanced security hardware/software. Since its inception in 2004, the Company has been determinedly seeking to acquire and develop the perfect business.
The letter of intent specifies that Intelbahn will undergo a name change to UnionTown Energy Inc., and that transaction closing should occur within 20 days of the Oct. 11, 2010 execution date, or at some other time if mutually agreed upon by all parties.
Major features of the proposed transaction:
• The UnionTown Project is a 45k gross-acre property situated in the Cherokee Basin which stretches across Kansas, Missouri, Arkansas and Oklahoma
• Abundant local infrastructure combined with the capacity to acquire more leases has formed the basis for a plan to build a large-scale natural gas production plant to supply domestic natural gas wholesalers/suppliers
Also Announced:
• Jurgen Wolf will be joining INBH as CEO/CFO and member of the board
• Marshall Diamond Goldberg will also be joining INBH as a technical Advisor and board member
• Current two directors will step down while retaining board seats
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