Hawkley Oil and Gas Limited entered into a sale and purchase agreement to acquire 33% stake in producing oil and gas project in North Dakota from Radian Partnership, LP, GCC Thurston Energy Limited Partnership, Natural Resource Advisors LLC, Ralph Curton, Thurston Energy Investments 2 LLC and Venrock Partners V managed by VR Adviser, LLC for $2.5 million on September 24, 2019. Under the terms of the deal, cash consideration is $1.26 million in cash and the same amount in the stock of Hawkley Oil. Hawkley Oil intends to consolidate the existing capital on a 1:10 basis. In a related deal, Hawkley intends to raise $5 million-$7 million (before costs) through a public offer. Funds raised will be used to fund the cash consideration. On completion, Jason Spittlehouse will be the vendor nominee in the Board. The acquisition is subject to undertaking the Consolidation and the Capital Raising, obtaining shareholder approval, and regulatory approvals, execution by Vendors (and/or their nominees) of restriction agreements, receiving conditional approval from ASX for the reinstatement of its securities to official quotation and transition and contract services operator agreement. The general meeting of the shareholder for approval to be held on 30 March 2020. Jason Peterson of CPS Capital Group Pty Ltd (“CPS”) acted as Lead Manager and Corporate Advisor in the transaction. Hawkley Oil and Gas Limited cancelled the acquisition of 33% stake in producing oil and gas project in North Dakota from Radian Partnership, LP, GCC Thurston Energy Limited Partnership, Natural Resource Advisors LLC, Ralph Curton, Thurston Energy Investments 2 LLC and Venrock Partners V managed by VR Adviser, LLC on May 31, 2020. All discussions with the vendors seeking to extend or replace the SPA have now ceased and the arrangement has been formally terminated.