DENVER, March 14, 2011 (GLOBE NEWSWIRE) -- Pure Cycle Corporation (the "Company") (Nasdaq:PCYO) announced it has entered into an oil and gas lease with Anadarko E&P Company, a wholly owned subsidiary of Anadarko Petroleum Company, on the mineral estate owned by the Company at its Sky Ranch property. Pure Cycle will receive a bonus payment of approximately $1,268,000 and will receive a royalty of 20% on the gross sales proceeds (less certain taxes) from oil and gas developed from the property.
Pure Cycle Enters Into Oil And Gas Lease With Anadarko At Sky Ranch
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