Boston, MA 04/07/2013 (wallstreetpr) – In a major development today Eco Trade Corp (PINK:BOPT) announced that it signed a letter of intent for $5 million financing with Ambrosia Holding and Finance ltd. (Ambrosia) for development of Bakken well. Ambrosia Holding is a UK based private fund which provides finances. Manoli Vindirlis, Managing Director of Ambrosia, stated, “We are extremely excited to have the opportunity to work with Eco-Trade on the development of the first well on this very dynamic property in the Bakken. Our historic investment portfolio to date has included resource and international oil and gas, and this first foray into what may be the most exciting oil find in North America, has us focused on efforts to close and drill as expeditiously as possible.”
It is said that around 18 to 22 billion barrels of oil can be recovered if Bakken oil formation is successful. Eco Trade Corp (PINK:BOPT) is a development stage company with main operations of development of logistic center in Southern California. Shares of company reacted positively in early morning’s trade and made a intraday high of $0.30 before slipping down by 32.17% currently to trade at $0.156, the stock has traded with volume of 9.02 million compared to average volume of 0.42 million.