Xtra Energy Corp. is holding final stages of negotiations to acquire exploration and near production oil and gas properties in North America. The company also intends to sell off mining assets.

The Board of Directors of the company, after months of consideration, has decided unanimously to dispose all of its mining assets. The company is holding talks with another publicly traded company for the sale and transfer of its various African properties. "We have been in discussions and negotiations for several months now with very promising exploration and near term production on the oil and gas prospects in North America.

This shift in direction was possible due to the unique and exciting opportunity that the company was introduced to," said Linda MacDonald, President of Xtra Energy.