2010-08-31

Transaction Type
Sellers
Buyers
Post Date
Estimated Price
0MM
Description

Combined entities will have proved reserves of more than 250,000 barrels of oil equivalent behind pipe and proved undeveloped reserves of 1.6 million barrels equivalent.

CanTex Energy Corp., San Antonio, (Pink Sheets: CTXE) plans to acquire Bedford Energy Inc., Oklahoma City, (Pink Sheets: BFDE) for an undisclosed price.

Bedford Energy has oil and gas operations in East Chandler Field covering 580 acres consisting of five oil and gas wells and one disposal well in Lincoln County, Oklahoma; Warren Field covering 160 acres in Hughes County, Oklahoma; and Janssen Field comprising 190 acres in Karnes County, Texas.

Pro forma, the combined entities will have proved reserves of more than 250,000 barrels of oil equivalent behind pipe and proved undeveloped reserves of 1.6 million barrels equivalent.

The deal is expected to close by Oct. 20.