Exobox Technologies acquires oil and gas wells

Mon. October 26, 2009; Posted: 02:17 PM

Oct 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- EXBX | Quote | Chart | News | PowerRating -- Exobox Technologies Corp., a US-based developer of enterprise and home user endpoint security software products, has acquired 16 oil and gas wells in the Clinton and Marcellus Shale region in Ohio, US.

The assets were purchased for $13.25 million, which includes (i) the assumption of existing debt of approximately $3 million, (ii) a 5-year, 7.5% convertible note in the amount of $1.5 million and convertible into common stock at $.21 per share, (iii) 1,163,000 shares of newly designated Series E convertible preferred stock with a stated value of $11,630,000, which is convertible into common stock at $0.477 per share and pays cumulative annual dividends of 7.5% and (iv) 3,000,000 shares of restricted common stock.

Announcement (October 14, 2009):

Exobox has entered into a non-binding letter of intent to acquire 15 oil and gas wells in the Clinton and Marcellus Shale region in Ohio, US for approximately $13.25 million.

The oil and gas wells represent a PV10 reserve value of approximately $22.5 million.

The purchase consideration includes the assumption of $3 million of existing debt and the issuance of a combination of convertible notes, convertible preferred stock, and common stock equivalent to 9.9% of the total outstanding shares of Exobox.

Deal Value (US$ Million) 13.25
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Completed: 2009-10-23

Deal Participants

Target (Company)   Undisclosed Company - 16 Oil & Gas Wells - Ohio, US
Acquirer (Company) Exobox Technologies Corp.
Vendor (Company)   Undisclosed Vendor

For full details for EXBX click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.