Hangtown Energy Inc. signed a non-binding letter of intent to acquire Rango Energy Inc. (OTCPK:RAGO) in a reverse merger transaction on August 15, 2013. Under the terms of the transaction, Rango will issue 114 million shares of its newly issued common stock to Hangtown. Hangtown shareholders will exchange 100% of the issued and outstanding shares of Hangtown for $6 million in cash in the merged entity for working capital, satisfaction of any remaining liabilities. Rango has agreed to buy Hangtown's interest in the existing Rango/Hangtown projects (Kettleman Middle Dome, South Tapo Canyon and Elks Hills) for 90 million shares of newly issued Rango common stock. Rango will also acquire Hangtown's 50% working interest in 5 well bores located at Kettleman Middle Dome, which were not part of the original Rango/Hangtown deal, for an additional 24 million shares of newly issued Rango stock. The transaction would include all subsidiaries, equity interests, joint ventures and affiliated interests to which Hangtown is a party, including existing well bores and field operations. Upon closing, Hangtown Energy's Chief Executive Officer, Vince Ramirez to become Chief Executive Officer of Rango Energy. The transaction is expected to be completed on or before September 30, 2013. Derek Gradwell of MZ Group acted as public relations advisor in the transaction.

Hangtown Energy Inc. cancelled the acquisition of Rango Energy Inc. (OTCPK:RAGO) in a reverse merger transaction on August 15, 2014.