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Eagleford Energy Inc. (EFRDF) Signs Agreement to Purchase Private Oil and Gas Company

Eagleford Energy Inc. announced that the company has signed an agreement to purchase a private oil and gas company that owns properties that are prospective for the Eagle Ford Shale in Texas.

Eagleford Energy Inc. is purchasing Dyami Energy LLC for total consideration of $4.1 million. The company will issue $3.14 million worth of units at $0.90 per unit and exchange these units to acquire 100% of the ownership interests of Dyami Energy LLC.

Eagleford Energy Inc. will also assume $960,000 of debt owed by Dyami Energy LLC to various entities through the issuance of a secured promissory note. The note will bear interest at 6% annually and mature on 12/31/2011. Eagleford Energy Inc. must also pay off the note early if the company raises funds of $4.5 million in a future offering.

Each unit issued by Eagleford Energy Inc. will comprise one share of common stock and one half of a warrant. Each full warrant will enable the purchase of one share of Eagleford Energy Inc. common stock at $1.00 per share for a four year period.

The assets of Dyami Energy LLC include working interests in two oil and gas leases in Zavala County, Texas. The leases total approximately 5,300 gross acres in the Maverick Basin of Texas, and are prospective for the Eagle Ford Shale.

For more information on the company, go to

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