Petro River updates on Horizon Energy Partners' farmout agreement (Scandinavian Oil-Gas Magazine)

Petro River updates on Horizon Energy Partners' farmout agreement

Published Feb 26, 2016

Petro River Oil Corp. has released an update from Horizon Energy Partners, LLC relating to a Farmout Agreement between Horizon Energy's wholly owned subsidiary, Grapevine Energy, LLC and California Resources Production Company.

Petro River is currently party to a conditional purchase agreement with Horizon I Investments, LLC to acquire a 20% interest in Horizon Energy; the acquisition is expected to close in April 2016.

The Farmout Agreement offers Grapevine a 100% interest (subject to certain conditions) in a large acreage position in the southern San Joaquin Basin.

Tags: Petro River Oil Corp.

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Petro River updates on Horizon Energy Partners' farmout agreement

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