Sunset Island Group Signs LOI To Acquire Oil Field
Sunset Island Group announced that it has signed a letter of intent to acquire several oil and gas leases in Texas.
The leases, located in southwest Texas, will cover approximately 26,000 acres in the Maverick Oil Basin. “We feel very pleased to be able to acquire a property in such a rich oil and gas producing area,” states Arnold Levine, Sunset Island Group CEO. “We are finishing up our due diligence and believe that we will be able to finalize funding and close on this acquisition shortly.”
The company also stated that upon completion of its due diligence of the Matagorda properties, the company has declined and will not acquire the property.