NuTech Energy Resources, Inc. entered into an agreement to acquire 74 producing wells of Emerald Operating Company and Rocky Mountain Exploration, Inc.

NuTech Energy Resources, Inc. (OTCPK:NERG) entered into an agreement to acquire 74 producing wells of Emerald Operating Company and Rocky Mountain Exploration, Inc. on November 19, 2015. In a related transaction, NuTech will acquire Emerald's minority non-operator interest in 42 of Mountain Hawk Exploration's well. The terms of the agreement include a purchase price of $0.5 million in addition to an undisclosed amount of common stock, but not to be in excess of 10% of the issued and outstanding shares of NuTech Energy.

As of December 3, 2015, the deal has received approval of Board of Directors of NuTech Energy. Steffan Dalsgaard at Everest Corporate Advisors, Inc. acted as PR advisor for the transaction.