DALECO RESOURCES CORP. An unknown buyer entered into a purchase and sale agreement to acquire certain oil and natural gas leasehold rights from Daleco Resources Corp. (OTCBB:DLOV.E) on October 6, 2013. The purchase price is subject to adjustment as to any title defect that is not cured within the time frame permitted by the agreement.
A first amendment was entered into on December 5, 2013, extending the closing date to December 17, 2013. On December 16, 2013, a scecond amendment was entered into by Daleco Resources Corp and the buyer to extend the closing date to January 16, 2014. On December 17, 2013, Daleco Resources Corp sold a part of certain oil and natural gas leasehold deep rights for approximately $0.5 million.
On January 13, 2014, a third amendment was entered into by Daleco Resources Corp and the buyer to extend the delayed closing date to February 17, 2014.
