Wentex International Inc., a Garden Grove oil...

Wentex International Inc., a Garden Grove oil and gas production firm, said Monday it is negotiating to acquire the oil and gas leases of MPA Associates Inc. of Los Angeles in exchange for an unspecified amount of Wentex stock. Wentex President W. J. Weaver Jr. would say only that the proposed sale is a “multimillion-dollar” transaction that he hopes will be completed by the end of April. He said the acquisition of MPA’s oil and gas leases in Oklahoma, Texas, West Virginia and Ohio would “about quadruple the assets and production” of Wentex. Weaver said Wentex wants to take advantage of the lower price of oil and gas leases in the wake of plummeting crude oil prices. “We believe this is the best time to make acquisitions in the gas and oil business,” he said.