Dallas Independent Buys in Eagle Ford, Looking For More Deals

摘要

After a private placement capital raising, recently formed Dallas-based Energy Hunter Resources Inc. said it acquired two lease acreage blocks in Karnes County, TX, in the Eagle Ford Shale. The company is also targeting acreage in the Permian Basin and mineral rights in the Marcellus and Utica shales. Oil-focused Energy Hunter raised about $3.15 million from a private placement of 3.15 million shares of common stock. The offering initially consisted of 2,500,000 shares, issued at $1.00/share, for gross proceeds of $2.5 million. CEO Gary Evans invested 10% percent in the offering. A 25% over-subscription yielded total proceeds of $3.15 million.