Epsilon Energy Reports Share Issuance for Acquisition
HOUSTON, a recent announcement from Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) confirmed the issuance of common shares as part of its strategic move to secure Peak BLM Lease LLC. The acquisition deal was finalized, paving the way for significant growth opportunities.
Details of the Acquisition
In line with the membership interest purchase agreement linked to Peak BLM Lease LLC, Epsilon intends to issue a total of 2,500,000 common shares upon meeting specific regulatory requirements by a designated Resolution Date. The Company’s board confirmed that the conditions set for this Resolution Date have been successfully met.
Following necessary purchase price adjustments as specified in the agreement, Epsilon dispatched 2,234,847 common shares to Yorktown Energy Partners XI, LP, marking a significant milestone for both parties involved in the transaction.
About Epsilon Energy Ltd.
Epsilon Energy Ltd. specializes in natural gas and oil production, operating primarily within North America's key basins including the Marcellus, Powder River, Permian, WCSB, and Anadarko. The company's focus is on enhancing production capabilities while managing efficient gathering processes across its extensive assets.
Contact Information for Inquiries
For further information, Epsilon Energy encourages interested parties to reach out through the following contact details:
Phone: 281-670-0002
Jason Stabell
Chief Executive Officer
Email: Jason.Stabell@EpsilonEnergyLTD.com
Andrew Williamson
Chief Financial Officer
Email: Andrew.Williamson@EpsilonEnergyLTD.com
Frequently Asked Questions
What is the purpose of the share issuance?
The share issuance serves as part of the acquisition expense for Peak BLM Lease LLC, aiming to solidify Epsilon's asset portfolio.
When was the acquisition finalized?
The acquisition was finalized shortly before the recent announcement, enhancing Epsilon's operational capabilities.
How many shares were issued to Yorktown Energy Partners?
Epsilon issued 2,234,847 common shares as part of this transaction.
Which areas does Epsilon operate in?
Epsilon Energy operates in various North American basins, focusing on natural gas and oil production.
Who can be contacted for media inquiries?
Please contact Jason Stabell or Andrew Williamson using the provided email addresses for any media inquiries.
