Tandem Energy Holdings (fka TDYH)

[mgk65]

jagman:

Yes.

TEH has closed on the purchase of a trading public shell and through a reverse merge
has built the foundation upon which it can access the public market and gain greater
access to debt and equity, as well as the ability to use its stock in future acquisitions. We
have raised $1.25 million in equity in order to fund the purchase of the public shell
($400,000), provide $350,000 in working capital and advance a$500,000 performance
deposit to the sellers of Tandem Energy Corporation who will then take back a$22 million
note for the purchase of the company. In addition, two leases will also be acquired for
stock. One is located in Oklahoma known as Kingfisher and the other is known as
Montgomery, located in Kansas. As of April 1 st, reflected on the balance sheet of TEH,
along with the $22 million carry-back note will be approximately $4.2 million in cash, $0.7
million in ARs, and $69.6 million in proven reserves of which $24.7 million will be PDP.