Dome Energy AB acquires strategic oil assets in the Illinois Basin
Dome Energy AB. (herein after “Dome” and/or “the Company”) has closed an acquisition of nine producing wells with 1,000 acres of productive land. Current production of ~80 BOPD and more than $8mm of proven reserves and additional probable reserves of $6mm, 10% discounted NPV. Dome estimates a yearly EBITDA contribution of more than $500,000 with current production. The acquisition price of $2mm and $2mm of development capital has been financed by Kvalitena AB, Gabrielsson Invest AB and Trention AB. Terms are favorable for Dome and the Company has the intent of