Abenteuer Resources Corp. announced that it has entered into an agreement with Sama Oil and Gas FZC to form a joint venture to explore for and exploit oil and gas projects in the Middle East, North Africa and the Indian Subcontinent. The joint venture is focusing primarily on proven producing fields that can be enhanced with current production technology, thereby aiming for a much lower level of capital investment than with traditional exploration projects.

Upon achieving positive cash flow, the joint venture would consider reviewing prospective and de-risked exploration projects in the regions where its enhancement projects are located. The joint venture partners are currently in negotiations with a National Oil Company for production enhancement opportunities and have already identified several projects of interest.