The company acquired the project, which consists of 688.71 acres of leased property, through the acquisition of 100% of the membership interest of Citadel Exploration LLC (CELLC).
CELLC founder Armen Nahabedian said that the acquisition and the company’s transition from a private oil and gas exploration company to a public company is a major step in the implementation of its growth strategy.
Citadel Exploration is an oil and gas exploration and production company with operations in the Salinas Basin of California.
