One-Page Deal Sheet
Magnum Hunter Resources Announces Acquisition of Sharon Resources, Inc.
Magnum Hunter Resources Corp. Sharon Resources, Inc.
Announced Date
September 03,2009
Close Date
September 30,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Asset/Basin:
{"Eagle Ford Shale"}
TargetZones:
{"Eagle Ford Shale"}
Proved Reserves
PV-10 ($MM)
Location
Region
Gulf Coast - South Texas
Country
United States
State
Texas
Play
Production & Reserves Reserves
Transaction Details: Subscribe to see
Magnum Hunter Resources Corporation announced today the execution of a definitive agreement to acquire 100% of the capital stock of Sharon Resources, Inc., a wholly owned subsidiary of Calgary based Sharon Energy Ltd.
The total consideration of $2.35 Million (USD) under the agreement will be paid in 2,294,474 shares of restricted common stock of Magnum Hunter Resources Corporation. This represents approximately 5.6% of the Company's 40.8 Million fully-diluted common shares outstanding as of August 1, 2009. No debt or any other liabilities will be assumed by Magnum Hunter and no other…
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