SEE anticipates closing the transaction during the first quarter of 2024
BlueFire Equipment acquires Screaming Eagle Energy. (Credit: Simon J from Pixabay)
BlueFire Equipment Corp. (OTC: BLFR) (“BLFR” or the “Company”), a specialist in emerging industry acquisitions, announces the acquisition of Screaming Eagle Energy, LLC. (“SEE”), that is currently purchasing oil and gas producing assets in Texas. The acquisition was made during the week the Company’s Interim CEO, Nickolas S. Tabraue, and Chairman of the Board, Kirk Yariger, attended an interview on OTC Stock Talk Space.
On December 14, 2023, the Company acquired 85% of SEE, a Limited Lability Corporation, formed in Texas to acquire oil and gas producing assets. There was no cash or shares of any class of the Company’s Stock in the exchange for the 85% of SEE’s membership interest.
Furthermore on the same day SEE entered into a Letter of Intent (“LOI”), to purchase producing oil and gas assets in Texas with production in excess of 1,400 BOE/day, with significant upside drilling potential, and over 25,000 acres currently held in production. SEE anticipates closing the transaction during the first quarter of 2024. The LOI is confidential and subject to the terms of the Confidentiality Agreement dated September 23, 2023.
Source: Company Press Release