Alpha Imperial Corp. acquired interest in the East White Lake Field, Louisiana of President Energy Plc (AIM:PPC) for $0.68 million on January 2, 2018. As part of transaction, Alpha acquired a non-operated 25% working in the main Field and approximately 2% working and net revenue interest in the "Houston" well also in the Field. The purchase price will be satisfied by reducing the sum of $0.53 million from the debt owed by President Energy to IYA Global Limited, a company whose ultimate beneficial owner is Peter Levine; also owner of Alpha Imperial Corp. Alpha has also assumed liabilities and indemnification of President in respect of the asset. Alpha will take over the $0.15 million Surety Bond for the Field, locked up through the Field life. The transaction reduces debt and at the same time provides more resources for President Energy to concentrate on its core Argentine assets. Christopher Raggett, Scott Mathieson and Emily Morris of finnCap acted as financial advisor for President Energy. Alpha Imperial Corp. completed the acquisition of interest in the East White Lake Field, Louisiana of President Energy Plc (AIM:PPC) for $0.68 million on January 2, 2018.