Asset Purchase Agreement for Zach Abney #1 and #2 Wells between CrossPoint Acquisition, LLC and Devon Energy Production Company L.P.
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Summary
CrossPoint Acquisition, LLC, a subsidiary of CrossPoint Energy Company, sold its interest in the Zach Abney #1 and #2 wells and related leasehold acreage in Harrison County, Texas, to Devon Energy Production Company L.P. for about $3.4 million. The sale, effective August 1, 2007, covers approximately 501 acres. Both parties will finalize any necessary financial adjustments within 60 days after the closing date of August 30, 2007.
EX-2.1 2 v087089_ex2-1.htm Unassociated Document
EXHIBIT 2.1
SUMMARY SHEET: SUMMARY OF TERMS OF THE
SALE OF ZACH ABNEY #1 AND #2 WELLS
On August 30, 2007, CrossPoint Acquisition, LLC, a wholly-owned subsidiary of CrossPoint Energy Company, agreed to sell and did sell its interest in Zach Abney #1 and #2 wells and all appurtenant leasehold acreage (included in the Waskom Field Properties) located in Harrison County, Texas to Devon Energy Production Company L.P. for approximately $3.4 million. The sale has an effective date of August 1, 2007 and includes approximately 501 gross leasehold acres. The parties are to make the final adjustments within a post closing settlement statement within 60 days of August 30, 2007.
