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Slide #73. Lilis Energy, Inc. — Shoreline Energy
Lilis Energy, Inc. (AMEX:LLEX)
Lilis Energy, Inc. (Nasdaq:LLEX) announced today that it has entered into a letter of intent (LOI) to acquire all of the issued and outstanding common shares of Calgary-based Shoreline Energy Corp. (Toronto Stock Exchange: SEQ). The Boards of Directors of Lilis Energy and Shoreline Energy, subject to completion of due diligence, as well as negotiation and execution of a definitive agreement in respect of the transaction, have unanimously approved entering into the LOI.
Lilis Energy is an independent oil and gas company focused on the exploration, acquisition, development, and production of oil and natural gas reserves from properties in the Permian Basin. Co.'s operations are focused on the Delaware Basin of the Permian in Winkler, Loving, and Reeves Counties, TX and Lea County, NM.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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