Micro Cap Company Petro River Oil – Petro River to Acquire Horizon I Investments, LLC
Petro River to receive a cash infusion of $5M and obtain a 20% interest in a portfolio of high potential oil and gas assets
New York, New York – December 7, 2015. Micro Cap Company Petro River Oil Corp. (ticker: PTRC) (“Petro River” or the “Company”) is pleased to announce that it has entered into a purchase agreement to acquire Horizon I Investments, LLC (“Horizon Investments”) in an all stock deal.
The acquisition will provide Petro River with approximately $5M in cash plus a 20% membership interest in Horizon Energy Partners, LLC (“Horizon Energy Partners”).
Horizon Energy Partners is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon Energy Partners has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies (including Royal Dutch Shell, Texaco, Burlington Resources and Pogo Producing), and have advised large energy focused private equity and hedge funds (including KKR, Riverstone Holdings, Silver Point Capital and the Carlyle Group).