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Petro River updates on Horizon Energy Partners' farmout agreement


Published Feb 26, 2016
Petro River Oil Corp

Petro River Oil Corp. has released an update from Horizon Energy Partners, LLC relating to a Farmout Agreement between Horizon Energy's wholly owned subsidiary, Grapevine Energy, LLC and California Resources Production Company.

Petro River is currently party to a conditional purchase agreement with Horizon I Investments, LLC to acquire a 20% interest in Horizon Energy; the acquisition is expected to close in April 2016.

The Farmout Agreement offers Grapevine a 100% interest (subject to certain conditions) in a large acreage position in the southern San Joaquin Basin.

Tags: Petro River Oil Corp.




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