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BRIEF-Razor Energy Corp. Entered Binding Pre-Acquisition Agreement With Little Rock

Published 2019-08-21, 06:30 a/m
© Reuters.  BRIEF-Razor Energy Corp. Entered Binding Pre-Acquisition Agreement With Little Rock
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Aug 21 (Reuters) - Razor Energy Corp RZE.V :

* . ANNOUNCES STRATEGIC ACQUISITION AND SECOND QUARTER 2019 RESULTS

* RAZOR ENERGY- UNDER TERMS OF PRE-ACQUISITION AGREEMENT, LITTLE ROCK SHAREHOLDERS WILL RECEIVE 0.45 OF A RAZOR COMMON SHARE FOR EACH LITTLE ROCK SHARE HELD

* RAZOR ENERGY -ENTERED BINDING PRE-ACQUISITION AGREEMENT WITH LITTLE ROCK

* TRANSACTION IMPLIES A VALUE OF APPROXIMATELY $12.7 MILLION FOR LITTLE ROCK

* QTRLY SALES VOLUMES AVERAGED 4,332 BOE/D, DOWN 14% FROM SAME QUARTER OF LAST YEAR

* SAYS PRODUCTION AVERAGED 4,143 BOE/D IN Q2 2019 DOWN 18% FROM SAME QUARTER IN 2018.

* QTRLY LOSS PER SHARE $ 0.12

* QTRLY AFFO PER SHARE $0.24

* BOARD OF EACH OF RAZOR ,LITTLE ROCK UNANIMOUSLY APPROVED TRANSACTION & RECOMMENDED THAT LITTLE ROCK SHAREHOLDERS SUPPORT TRANSACTION

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