CGrowth Capital, Inc. announced that it has completed the purchase and sale agreement for the purchase of an initial 2,064 acres of Wyoming oil leases with 65 offset drilling locations from West Salt Creek, Inc. The leases, located in the Powder River Basin, include active wells with current production along with the associated fixtures, pumps, vehicles, and tanks for the current field operation. The company is working to close the transaction through escrow as soon as possible. Current production on the 100% working interest leases is 12-13 BOPD.

A revitalization plan for the existing wells anticipates increasing the production to over 100 BOPD. In addition to these current leases, the company will maintain a 20% working interest in a group of wells currently in a revitalization plan with a third party in the field.