Scandoil  

Hawker Energy completes acquisition of TEG Oil & Gas USA


Published Feb 6, 2015
[an error occurred while processing this directive]

Edit page New page Hide edit links

Hawker Energy, Inc.

Hawker Energy, Inc. has closed its previously-announced acquisition of 100% of the shares of TEG Oil & Gas U.S.A., Inc. from Sefton Resources, Inc. TEG owns the Tapia Canyon and Eureka oil fields in California, as further described below.

Hawker purchased all of the shares of TEG by issuing 3 million shares of Hawker's common stock and a five-year warrant to purchase up to an additional 5 million shares of Hawker's common stock for $0.25 per share.

In addition, Hawker and its subsidiary have made a number of advances totaling approximately $1.65 million to TEG beginning April 2014 through the present, pursuant to a secured subordinated note. This amount constitutes additional consideration for the acquisition, as this loan receivable will not be settled prior to the closing of the acquisition of TEG.

Tags: Hawker Energy, Inc., TEG Oil & Gas U.S.A.




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml