Royal Energy Resources, Inc. (OTCPK:ROYE) entered into letter agreement to acquire Big River Mining LLC, Yellow Bush Mining LLC and Broad Run Dock LLC from Coal Fields Transports, Inc. on July 21, 2015. In related transaction, Royal Energy Resources, Inc. entered into letter agreement to acquire Gatling LLC, Gatling Ohio LLC and Meigs Point Dock LLC from Middle Wilgat LLC. The agreement provides for an aggregate purchase price of $20 million, $18.5 million in cash and $1.5 million payable in the form of a 2% clean coal royalty. Under the terms of the agreement, Royal Energy Resources paid a $0.25 million deposit. The acquisition is expected to close on or before October 5, 2015.

As of November 25, 2015, Jet Fuel LLC entered into definitive agreement to acquire Big River Mining LLC, Yellow Bush Mining LLC and Broad Run Dock LLC from Coal Fields Transports, Inc. for $1000. No consent, waiver, agreement, approval, permit or authorization of, or declaration, filing, notice or registration to or with, or assignment by, any governmental entity is required. The transaction is scheduled to close on or before December 20, 2015, but in no event later than December 31, 2015. David C. Stratton of Stratton Law Firm, P.S.C. acted as legal advisor for Jet Fuel and Robert J. Mottern of Davis Gillett Mottern & Sims LLC acted as legal advisors for Royal Energy Resources, Inc. Jennifer Fahey of Bailey & Glasser, LLP acted as legal advisor for Coal Fields Transports, Inc.

Jet Fuel LLC cancelled the acquisition of Big River Mining LLC, Yellow Bush Mining LLC and Broad Run Dock LLC from Coal Fields Transports, Inc. on December 31, 2015. Due to changes in the economic realities of coal in the present political climate, the transaction was allowed to expire on December 31, 2015.