Energy Hunter Resources, Inc., an exploration and production company with a balanced portfolio of oil and natural gas properties located in the Permian Basin and Eagle Ford Shale regions and headquartered in Dallas, Texas (www.energyhunter.energy), announced that it entered into a definitive agreement with Lubbock Energy Partners, LLC to acquire approximately 9,413 net acres located in the San Andres oil play of the Central Basin Platform portion of the Permian Basin in a 50/50 cash and restricted stock transaction valued at approximately $22.6 million.
The transaction, is subject to satisfaction of customary closing conditions. Energy Hunter Resources expects to fund the cash portion of the transaction through an offering of common stock under Regulation A+, which it anticipates launching in the near future. Upon successful conclusion of the Regulation A+ Equity Offering, Energy Hunter Resources plans to begin trading its securities on the NASDAQ Capital Markets Exchange under the ticker symbol (NASDAQ: EHR).
Jessup Energy Land, LLC** (JEL) provided the land due diligence services for this acquisition. Greg Jessup, CPL, as Principal of JEL, and Stephanie Sullivan, CPL, Project Manager, headed up the land team. Brian Burgher, SVP Land & Business Development for Energy Hunter Resources, Inc. (EHR) was instrumental in keeping our crew informed and on track to complete our responsibilities in a timely and accurate manner. Duane Morris acted as Legal Adviser.
A spokesperson for JEL said: “We covet our long term relationship with Gary Evans and his management group and look forward to many more successes with EHR!”
**Jessup Energy Land is a Petroleum Land Services company that is about the details. We strive to meet and exceed our clients' expectations by developing professional relationships based on the foundation of honesty, integrity, transparency & trust. We work to provide the integration of our value-added services & solutions with the existing business model and commitment to details & excellence yielding enhanced quality, productivity& the overall bottom line for our clients. Our clients cover the gamut from E&P companies to Law Firms and individual attorneys (O&G, Title, Trust, Probate, Real Estate, Corporate, Water Rights & Litigation), Financial Institutions, Capital Providers, Private Investors and Mineral & Royalty Owners. JEL will handle your acquisition & divestment, due diligence and curative needs as well as assist in obtaining market value prices for oil & gas properties. Greg Jessup brings 40 years of land experience and a background that includes over $2B in divestments and acquisitions. Call us at 972-571-8198 for a consultation or send an email to jessupg@sbcglobal.net
