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Armada Oil Enters Agreement For Funding With Gulfstar Resources

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May 20, 2014

Armada Oil Inc. (OTC: AOIL) entered into an agreement, for a third tranche of capital related to a recent transaction, with private energy investment group Gulfstar Resources LLC, the company said May 19.

The recent transaction was an asset reallocation, the company added.

The total net funding for the third tranche is about $2 million, the company said, noting that upon full funding, Gulfstar will have acquired an additional 12.6% of TNR Holdings LLC. Armada Oil’s ownership interest in TNR Holdings will be about 27%, the company added. The tranche ...

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