Mondial Ventures, Inc. announced it has signed a Definitive Agreement to acquire a 50% working interest and participate in the development of a 240 acre Oil lease known as the Boyette property located in Shackelford County, Texas. The agreement calls for Mondial to provide $175,000 for the acquisition of the working interest and to prepare the ground work to conduct a 3-D Seismic study on the 240 acres. The seismic study will focus on specific Barnett Shale formation characteristics that will assist in the drilling of up to two Barnett horizontal wells, or 4 equivalent vertical wells per horizontal well, on the Boyette lease.

Proposed depth of the future drilling is expected to be approximately 5,200' to 5,500' feet. Three previously producing wells currently exist on the property. Recently, there have been Barnett wells in the immediate surrounding area that have been productive in the oil segment of the Barnett Shale which have justified the seismic study.