AGR Tools Inc's wholly owned subsidiary AGR Energy Holding Inc. (or "AGR Energy) has signed a memorandum of understanding to acquire a two thousand twenty six (2,026) acre oil and gas lease in, Corsicana, Texas from BNMW Resources, LLC (or the "Vendor").

Under the terms of the agreement, the Company shall pay four hundred fifty thousand dollars ($450,000) for a seventy seven percent (77%) net revenue interest in the potential production from the four (4) parcels, two thousand twenty six (2,026) acre property collectively called the "Smackover Lease."

Tags: AGR Group