AH my dahlink so many things.
On December 9, 2010 the Company executed a Letter of Intent with Global Energy Acquisitions, LLC ("GEA") which provides in part for the Company to acquire from GEA a 51% gross royalty interest in up to 500 producing oil and gas wells in Kentucky. GEA is in the business of exploring, developing, operating, and investing in, acquiring, selling, managing and drilling oil and gas properties.
to close on or before Jan 31.
have exclusive drilling rights to approximately 60,000 + acres of oil and gas bearing properties with landowners in central and south central Kentucky and Tennessee
Value of shares to be .75 or 5 day average of closing date Jan 31.
Independent Third Party prepare a Valuation Report for the Oil and Gas interest (they are at the site having this done now)I spoke to the CEO yesterday and he said he has a good feeling about the report but would go no further.
the seller will provide financial statements for the period ending Dec 31.
10Q is due and according to CEO will be on time.
big things, coming soon.
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