Exterra Energy Seeking Merger Candidates

Transaction Type
Sellers
Buyers
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Description

To identify private co. to merge with.

Exterra Energy Inc., Amarillo, Texas, (OTCBB: EENI) says it is planning to hire an investment banking firm to assist in identifying a larger private company with which to merge.

The objective of the merger, Exterra says, is to be able to have its shares listed on the NYSE Amex exchange, as well as to improve opportunities to raise capital.

Exterra chairman Robert Royal says, "The appropriate merger candidate would be a successful oil and gas exploration and production company with greater oil and gas assets, revenues, and earnings. This candidate would also further enhance Exterra with industry management, technical and field professionals with proven expertise that will enhance shareholder value."

Exterra has assets in the Newark East (Barnett shale) gas field in North Texas.