An undisclosed buyer entered into an agreement to acquire all of the assets located in Kern County, California from Yuma Energy Inc. (AMEX:YUMA) and its subsidiary Pyramid Oil LLC for approximately $3.2 million on March 21, 2019. The purchase consideration comprises a payment of $2.1 million and assumption of certain plugging and abandonment liabilities of approximately $864,000. As additional consideration for the sale of the assets, if WTI Index for oil equals or exceeds $65 in the six months following the closing and maintains that average for twelve consecutive months, then the buyer shall pay Yuma $250,000. The transaction is expected to close by April 26, 2019.