The DD says that this is JR's masterpiece. He has been putting this together for the past 18 years. Renfro Energy LLC is a holding company for Capital Petroleum and Cameron Parish Pipelines, LLC. JR owns the leases and the companies that will be the operators on both the oil and the gas.
Brzl makes money on all sides of this. Renfro has 480 million shares. So he takes his existing companies and makes this stock worth over $2 and he is now worth over $1 billion.
Nothing is for certain. It is only my opinion, but I believe that this deal gets done, because he isn't going to want to wait another 1-2 years.
I'll attempt to answer any question you may have to the best of my ability to prove as the admiral has said that this is a DD play. ( no I don't know when an official PR will be announced)