TheSUBWAY.com (OTCBB- EFRDF) Grass Roots Research Reports on Eagleford Energy.
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Grass Roots Research Reports on Eagleford Energy.
(OTCBB: EFRDF) View Report Here: http://grassrootsrd.com/CompanyDetails.aspxcid0&rid3
Eagleford Energy (OTC: EFRDF) is a startup exploration stage oil and gas company that is engaged in the acquisition, exploration and development of oil & gas properties in North America. The Company recently acquired the assets of Dynami Energy LLC and now owns the mineral rights to an 85% working interest (before payout of approx. $12.5 million) in the Matthews Lease and a 90% to 97% working interest in the Murphy Lease. The Matthews Lease is 2,629 acres and the Murphy Lease is 2,637 acres. Terms of the transaction were an issuance of 3.4 million shares and 1.7 million warrants of Eagleford Energy, and the assumption of $0.96 million in debt, with a total value of $4.1 million. The exercise price of the warrants is $1 per share by August 31, 2014. The Company plans to develop the hydrocarbon resources on the Matthews and Murphy Leases, located in Zavala County, Texas. Situated on the Eagle Ford Shale play, wells on adjacent properties indicate an economic ultimate resource (EUR) of a total of 8 million barrels of oil on leases held by Eagleford Energy. The Company plans to continue to seek additional leases while it commences exploration and development work on the Matthews and Murphy Leases.
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