Bakken Resources, Inc. (OTCBB:BKKN) acquired 17% working interest in oil well located in Archer County, Texas from Holms Energy Development Corp. for $0.07 million on July 3, 2012. Under the terms of the agreement, Bakken Resources will pay the purchase price in two installments: one-half upon the completion of the transaction and one-half in 90 days thereafter. Holms Energy Development will continue to be the operator of the well. The transaction was approved by a majority of both the independent and non-interested members of Bakken Resources, Inc.'s Board of Directors. Bakken Resources, Inc. (OTCBB:BKKN) completed the acquisition of 17% working interest in oil well located in Archer County, Texas from Holms Energy Development Corp. on July 3, 2012.