Vivian Oil And Gasoline, Inc. signed an asset transfer and liability assumption agreement to acquire various oil and gas leases in the state of Arkansas from Rango Energy Inc..
June 18, 2013 at 12:00 am EDT
Vivian Oil And Gasoline, Inc. acquired various oil and gas leases in the state of Arkansas from Rango Energy Inc. (OTCPK:RAGO) on June 12, 2013. In consideration for the transfer of the leases, Vivian Oil agreed to pay Rango $10 plus other good and valuable consideration, including the assumption of all working interest liability in the leases, all working interest remediation expenses, and plugging and abandonment costs required by the State of Arkansas incurred by Rango during its term of ownership of the leases. The deal is subject to third part approval and other conditions.
Vivian Oil And Gasoline, Inc. completed the acquisition of various oil and gas leases in the state of Arkansas from Rango Energy Inc. (OTCPK:RAGO) on June 12, 2013.