Proceeds of the financing will be used to fund the acquisition of certain leases owned and operated by Ponderosa Energy, LLC (See March 3, 2017 news release) as well as fund its 25% working interest in the continued well workover program and the drilling of the Red Cave formation.
Molori holds a 25% working interest in certain leases owned by Borger, Texas based Ponderosa Energy. For further detail on the Red Cave opportunity, consult Molori Energy's website at www.molorienergy.com.
Forecasters expect robust merger and acquisition activity targeting the vast region of West Texas and Southeast New Mexico where Molori Energy is located, to continue as well, as more and more producers eager to add economic drilling prospects to their portfolios attempt to gain or enlarge existing footholds there.
News 
Market Data 
Discover 
