Minecorp Energy Ltd. TSXV:MCE) and Magnum Manufacturing LLC signed letter of intent to forms a joint-venture to operate in the region of Mexico and Latin America. The joint-venture is expected to be used to make acquisitions in the region. "Minceorp sees this venture as not only an opportunity to take advantage of the increased demand for third party oilfield services and supplies brought about by privatization of the oil industry in Mexico but also as a significant opportunity to acquire participating oil and gas interests in Mexico and throughout Latin America.

Minecorp sees this latter opportunity as forming the core of its business activities in due course," Minecorp announced.