The agreement for the acquisition is subject to the completion of all required US Securities and Exchange Commission filings and will be structured as a share exchange, based on independent third party valuations of the two entities.
Caddo is an oil production and service company and utilizes its own equipment and pulling units in order to provide oilfield services.
The company currently generates revenues of about $1.4m to $2.4m per year with an estimated $6m in assets.
Caddo provides oil field services for several hundred wells in the Caddo Pine Island field, the Haynesville field and the Desoto Parish known as the Spyder field in the US.
