Red MOUNTAIN RESOURCES, INC. Unaudited Pro Forma CoNDENSED FINANCIAL INFORMATIONRed Mountain Resources, Inc. • November 13th, 2015 • Crude petroleum & natural gas
On April 21, 2015, RMR Operating, LLC, Black Rock Capital, Inc., RMR KS Holdings, LLC and Cross Border Resources, Inc., (together the “Operating Subsidiaries”), entered into a purchase and sale agreement (the “PSA”) with Black Shale Minerals, LLC (“Buyer”). Pursuant to the PSA, Red Mountain Resources, Inc. (“Red Mountain”) through the Operating Subsidiaries, sold, assigned, transferred and conveyed to Buyer, effective as of April 1, 2015, fifty percent (50%) of its right, title, and interest in and to certain oil and natural gas assets and properties (the “Assets”), including its oil and natural gas leasehold interests, wells, contracts, and oil and natural gas produced after April 1, 2015 (the “Sale”). The aggregate purchase price for the Assets under the PSA was $25.0 million, subject to certain adjustments, including post-closing adjustments for any title or environmental benefits or title or environmental defects resulting from Buyer’s title and environmental reviews. The following
