LNG Energy Ltd has acquired a 60% interest in a private Delaware company (PrivateCo) for a purchase price of USD 6 million. PrivateCo has recently entered into a purchase and sale agreement with BNK Petroleum Inc. under which BNK will sell to PrivateCo approximately 2800 acres of oil and gas leases which are adjacent to BNK’s East Tishomingo Field development, in Carter County, Oklahoma and an estimated 86,000 acres of leases in the Black Warrior Basin of Mississippi and Alabama for USD 10 million. The acquisition by PrivateCo of the oil and gas leases from BNK is expected to close in mid December. BNK has also entered into an Exploration Agreement with PrivateCo in regard to the Black Warrior acreage whereby BNK can earn up to a 50% working interest in a portion or all of the Black Warrior acreage by drilling a series of test wells on identified prospects. BNK is currently projected to incur an expenditure of up to USD 10 million in the eight well program in order to earn the 50% working interest.