Delta Oil & Gas Buys Stallion Group
Under the deal, Delta offered 0.333333 of its common shares and $0.0008 in cash for each outstanding common share of The Stallion Group. Delta will issue around 19,545,026 shares in the offer, which will represent around 80% of Delta's outstanding stock, following the transaction. In connection with the offer, Delta will also pay around $46,908 in cash.
Delta Oil & Gas has accepted the following number and approximate percentage of
Canada-based Delta Oil & Gas is focused on creating development and exploration drilling in Canada and the United States. The company works to minimize geological risk by focusing on properties known hydrocarbon accumulations and seeks to lower its cost structure through relationships with established oil and gas companies and operators.
The company has projects in Oklahoma and Mississippi in the U.S., and Saskatchewan and Alberta in Canada.
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