This post first appeared on SEC Filings – Market Exclusive

EMPIRE PETROLEUM CORPORATION (OTCMKTS:EMPR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

Empire Louisiana LLC, a Delaware limited liability company d/b/a Empire Louisiana LLC of Delaware ("Empire Louisiana"), is a wholly owned subsidiary of Empire Petroleum Corporation (the "Corporation"). Empire Louisiana entered into a purchase and sale agreement with Exodus Energy, Inc. ("Exodus") dated as of July 12, 2018 (the "Purchase Agreement"), which was executed and delivered by the parties on July 13, 2018. to the Purchase Agreement, Empire Louisiana agreed to purchase certain oil and gas properties and assets in Louisiana from Exodus for a purchase price of $950,000. Also to the Purchase Agreement, the closing is to occur on or before August 31, 2018 and the effective date of the transaction will be August 1, 2018.

The oil and gas properties subject to the Purchase Agreement include 1,500 gross developed and undeveloped acres and 8 wells currently producing approximately 135 barrels of oil equivalent (BOE) per day. Empire Louisiana's working interests in the wells will range from 50% to 86%.

The foregoing summary of the Purchase Agreement is qualified in its entirety by reference to the full terms and conditions of such agreement, a copy of which is included as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


EMPIRE PETROLEUM CORP Exhibit
EX-2.1 2 exh2-1_18225.htm PURCHASE AND SALE AGREEMENT EXHIBIT 2.1       PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT dated July 12,…
To view the full exhibit click here

About EMPIRE PETROLEUM CORPORATION (OTCMKTS:EMPR)

Empire Petroleum Corporation is engaged in exploration and development of oil and gas interests. The Company did not own any interest in oil and gas properties or equipment. The Company continues to seek partners to help it explore and develop oil and gas interests. The Company does not have any producing wells. The Company owned a working interest in oil and gas leases in Nye County, Nevada (the Gabbs Valley Prospect). The Company owned a working interest in oil and gas leases in Natrona County, Wyoming (the South Okie Prospect). The Company owned options to acquire approximately 160,000 gross leasable acres in South Dakota and North Dakota. The Company has no revenue.

The post EMPIRE PETROLEUM CORPORATION (OTCMKTS:EMPR) Files An 8-K Entry into a Material Definitive Agreement appeared first on Market Exclusive.

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This post first appeared on SEC Filings – Market Exclusive

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