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OTC Disclosure & News Service

 

Green Mountain Development and Osprey Oil & Gas Ltd Sign Canadian Oil Field Project Development Agreement

Nov 02, 2012

OTC Disclosure & News Service

Carlsbad, CA -

CARLSBAD, Calif. – November 2, 2012 - Green Mountain Development Corp (Pinksheet: GMND), announced today that it has entered into an Oil Field Project Development Agreement (the "Agreement") with Osprey Oil & Gas Ltd of Calgary, Alberta.  The Osprey project opportunity was brought to GMND CEO, Robert Brehm, by long time business associates who have followed the company’s progress with energy related projects. 

The Osprey development projects are in Alberta and southern Saskatchewan which lies along the northern tier of the vast Bakken formation, the biggest energy pool to be tapped in North America for 50 years. The Bakken is a massive energy play that contains hundreds of billions of barrels of oil and is transforming the economy of Middle Canada.  When only a tiny percentage is recovered, it means huge injections of jobs, capital and consumer spending into parts of the Saskatchewan, Manitoba and Alberta.

Green Mountain is assisting Osprey with preliminary development work including project due diligence, financial review and onsite investigation, identification of capital sources and negotiation of a joint venture (JV) deal structure between investors and Osprey.  Green Mountain draws upon its prior experience and resources of its affiliate partners to develop a JV structure to transition Osprey drilling leases from the acquisition stage to commercial production. As part of its compensation for bringing all parties together, Green Mountain has a participation in the Joint Venture.

Robert Brehm stated, "We are delighted to work closely with Osprey management and their affiliate vendors on this energy project and future expansions.  We believe we can bring capital and additional energy partners to the JV to improve project returns.”

About Green Mountain Development Corp

Green Mountain Development Corp provides project development services for capital providers and technology operators and distributes licensed products related to the energy, agricultural and environmental sectors. 

 

Investors and media contact Robert Brehm at 619/488-3744 (bob@greenbizness.com) or visit the corporate website www.GreenBizness.com for news and updates.

 

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a development stage company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. 

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