Texas South Energy, Inc. (OTCPK:TXSO) acquired Certain Onshore Oil and Gas Assets, Interests, Seismic data and Certain Tangible Assets from Sydson Energy, Inc. and Sydson Resources, L.P. for $3.9 million on January 4, 2017. As per the terms of the agreement, Texas South Energy will issue 100 million shares of common stock at closing of the transaction to Michael J. Mayell, $0.25 million through a promissory note due March 5, 2017, $1.25 million through the payment of Sydson’s obligations attributable to Sydson’s retained working interests in oil and gas prospects, to be paid by Texas South at the time it pays its associated costs with respect to its ownership interests in such oil and gas prospects and payment of $0.5 million for the seismic data at the Magen’s Bay project after completion of the first Magen’s Bay well. In connection with the transaction, certain officers and employees of Sydson have become officers, consultant and employees of Texas South, including Michael J. Mayell who became Chief Executive Officer, James L. Gunderson who became Manager of Land, Robert L. Goldstein, who will serve as a geological consultant to Texas South, and Lecia Alexander, who became Controller of Texas South. Certain other non-executive employees and consultants of Sydson became at-will employees of Texas South. John B Connally III joined the Board of Texas South as Chairman. Subsequent to the closing, James M. Askew resigned as an Executive Officer and Director of Texas South and entered into a consulting agreement with Texas South. Texas South Energy, Inc. (OTCPK:TXSO) completed the acquisition of Certain Onshore Oil and Gas Assets, Interests, Seismic data and Certain Tangible Assets from Sydson Energy, Inc. and Sydson Resources, L.P. on January 4, 2017.