Overlord Capital Ltd. announced that it has entered into a participation agreement with Avanti Exploration Louisiana, L.L.C. dated January 24, 2013 under which Overlord will acquire a 25% interest in two oil and/or gas wells, known as the PWK 10-1 well and the Powell Lumber 1 well located in the Cowpen Creek Field area in Beauregard Parish, Louisiana. Under the terms of the Participation Agreement, Overlord will receive an undivided 25% working interest in the PWK 10-1 well and the Powell Lumber #1 well in consideration for Overlord contributing $367,500, or 50%, of the cost of the workover/re-entering of these wells. In connection with the execution of the Participation Agreement, Overlord has advanced $184,000 of these costs to Avanti and expects work on the PWK well to commence immediately.

The Participation Agreement also provides that Avanti will be the operator of the wells and the parties have entered into a joint operating agreement dated January 24, 2013 in this regard.