AMAZING ENERGY OIL AND GAS, CO. (OTCMKTS:AMAZ) Files An 8-K Termination of a Material Definitive AgreementItem 1.02
Termination of a Material Agreement
On September 20, 2017 Amazing Energy Oil and Gas, Co. (the “Company”) announced, via Form 8-K, the entry into an agreement, with E-Land Ventures, LLC, to acquire acreage located in Butler County, Kansas. E-Land Ventures, LLC is controlled by Willard McAndrew III, the Company’s Chief Executive Officer.
On November 08, 2017 the Company and E-Land Ventures, LLC mutually agreed to nullify the agreement. Neither title to the acreage, nor any monies, were exchanged between the parties to the agreement and neither party performed any of their obligations to the agreement.
About AMAZING ENERGY OIL AND GAS, CO. (OTCMKTS:AMAZ)
Amazing Energy Oil and Gas, Co. is an independent energy company. The Company is engaged in the business of exploration, development and production of oil and gas in the Permian Basin of West Texas. The Company is also engaged in the production and sale of oil and natural gas. The Company is developing resource potential from the Queens formation. Its additional drilling targets include the Greyburg, San Andreas and Devonian zones. As of July 31, 2016, the Company had leasehold rights within approximately 70,000 contiguous acres in Pecos County, Texas, which lies within the Permian Basin. The property is located in the Northeast region of the County. The Pecos leasehold lies within the White & Baker Field and portions of the Walker Field. The Pecos leasehold consists of multiple leases. As of July 31, 2016, its estimated net proved reserves were 745,190 barrels of oil equivalent (BOE). As of July 31, 2016, the Company owned 22 oil and gas wells in the Permian Basin.