Closing of property acquisition (8957L)

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RNS Number : 8957L

Resaca Exploitation Inc

08 August 2011

 
 for IMMEDIATE release   8 AUGUST 2011 
 

Resaca Exploitation, Inc.

("Resaca" or "the Company")

Closing of property acquisition

Resaca (AIM: RSOX), the oil and natural gas production, exploitation, and development company focused on the Permian Basin in the USA, is pleased to announce that it has closed the previously announced acquisition of Permian Basin oil and gas properties for $4.4 million in cash and 841,308 shares of newly issued Resaca common shares.

For further information please contact:

 
 Resaca Exploitation, Inc. 
 J.P. Bryan, Chairman and Chief Executive 
  Officer                                              [phone] 
 John J. ("Jay") Lendrum, III, Vice Chairman           [phone] 
 Dennis Hammond, President and Chief 
  Operating Officer                                    [phone] 
 Chris Work, Chief Financial Officer                   [phone] 
 
 Buchanan Communications (Investor Relations)     [phone] 
 Tim Thompson 
  Helen Chan 
  Ben Romney 
 
 finnCap Limited (Nomad and Broker)              + 44 (0) 20 7600 1658 
 Sarah Wharry, Corporate Finance 
  Stephen Norcross, Corporate Broking 
 
 

About Resaca

Resaca is an independent oil and gas development and production company based in Houston, Texas. Resaca is focused on the acquisition and exploitation of long-life oil and gas properties, utilizing a variety of primary, secondary and tertiary recovery techniques. Resaca's current properties are located in the Permian Basin of West Texas and Southeast New Mexico. Additional information is available at www.resacaexploitation.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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