Under the agreement, Explortex Energy will acquire the hydrocarbon rights to 4,700 acres and in excess of 41 well bores commonly referred to as the Greenwood Waskom field, which is located in Caddo Parish.
Explortex Energy will pay $2.45m in cash and common stock of the purchaser, inconsideration of the sale, conveyance, assignment, transfer and delivery of the assets by the sellers to the company.
US based Explortex Energy is an oil and gas exploration company with North American operations.
