Petrolia Energy Corporation has executed a Definitive Binding Arrangement Agreement with Bow Energy Ltd., a Canadian based oil and natural gas company trading on the TSX Venture Exchange holding over 948,000 net acres onshore North Sumatra, Indonesia which is one of the world’s most prolific oil and gas basins. Bow’s acreage consists of interests in five production-sharing contracts (PSCs) and one Joint Study Agreement (JSA) with the Indonesian government. The assets are close to existing infrastructure and the city of Medan which is the largest city in North Sumatra.
