The US Bankruptcy Court gave an order approving the sale of certain assets of Teletouch Communications, Inc. on July 9, 2014. The debtor has been authorized to sell certain assets of Progressive Concepts, Inc., its affiliate, to DCP Teletouch Lender, LLC, the stalking horse bidder for a purchase price of $0.20 million credit bid. The debtor's assets include leasehold interests of Progressive Concepts, Inc. in Paid Up Oil and Gas Lease.

The buyer shall pay an additional $2,500 in cash for leasehold interests and the assignment of lease.