Rooster Energy Ltd. has entered into: (i) a membership interest contribution agreement (the "Cochon Agreement") dated March 7, 2014 with the members of Cochon Properties, LLC (Cochon) to acquire 100% of the membership interests in Cochon for consideration of US$30 million (the "Cochon Acquisition"); and (ii) a membership interest contribution agreement (the "Well Services Agreement" and, together with the Cochon Agreement, the "Agreements") dated March 7, 2014 with Morrison Energy Group, LLC, ("MEG") to acquire 100% of the membership interest in Morrison Well Services, LLC ("Well Services") for consideration of US$95 million (the "Well Services Acquisition" and, together with the Cochon Acquisition, the "Transaction").

Pursuant to the Transaction, as further described below, Rooster will acquire Cochon, which owns oil and gas leases covering three shallow water, offshore Gulf of Mexico oil and gas fields, and Wells Services, the primary business of which is the plugging and abandonment of wells with 15 rigless plug and abandonment units.

Tags: Rooster Energy