Brief: Earthstone Energy, Oak Valley Resources to buy additional Eagle Ford interests

Oak Valley Bancorp

17/10/2014 13:00

Oct 17 (Reuters) - Earthstone Energy Inc <>: 
 * Earthstone Energy, Inc. and Oak Valley resources, llc announce agreement to 
   acquire additional Eagle Ford interests 
 * To acquire an undivided 20% interest in a horizontal Eagle Ford development 
   project located in fayette and Gonzales counties 
 * After transaction, flatonia will continue to hold 50% undivided interest in 
   project and an Oak Valley unit will hold remaining 50% 
 * At closing, flatonia will own a 21.4% equity interest in combined co 
 * Acquire an undivided 20% interest in exchange for issuance to flatonia of 
   about 2.957 million shares of Earthstone common stock 
 * At closing, Oak Valley and the current Earthstone stockholders will own 66.0% 
   and 12.6%, of the combined co respectively 
 
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