STW Resources Holding Corp (OTCPK:STWS) signed a non-binding agreement to acquire Black Pearl Energy, Inc. from Stan Weiner, Lee Maddox and Grant Seabolt and others for $2 million on September 4, 2014. STW will pay the purchase price as follows: 21% cash, 37% earn-out over three years and 42% in stock. In 2013, Black Pearl Energy, Inc. had revenues of $6.4 million. Black Pearl will be operating under new management as wholly owned subsidiary of STW Resources Holding. The transaction is subject to customary closing conditions, including availability of audited financials for Black Pearl Energy, Inc. The transaction is expected to close by the end of September 2014 and will be accretive in revenues, profitability, and cash flows of STW Resources.

STW Resources Holding Corp (OTCPK:STWS) cancelled the acquisition of Black Pearl Energy, Inc. from Stan Weiner, Lee Maddox and Grant Seabolt and others on September 4, 2015.