|
HOUSTON, TX--(Marketwired - April 24, 2015) - Rockdale Resources Corporation (OTCQB: BBLSE), ("Rockdale" or "Company") is pleased to announce the signing of a Letter of Intent ("LOI") with Houston based SUDS Properties, LLC ("SPL"), whereby Rockdale will acquire up to a 50% undivided Working Interest ("WI") in the historic 2,600 acre Slick Unit Dutcher Sands field ("SUDS"), located in Creek County, Oklahoma, in exchange for up to 70% of the issued and outstanding shares of Rockdale, on a fully diluted basis. The final percentages will be determined by the total 1P reserves (proved reserves of oil) as of December 31st, 2014, detailed on the reserve reports currently being updated by independent licensed reserve engineers, for both SPL and Rockdale. |
