HNR Acquisition completed the acquisition of Pogo Resources.

HNR Acquisition, a blank check company, completed the acquisition of Pogo Resources, an independent oil and gas company. Financial terms were not disclosed. "In all the years I have worked in the petroleum industry, I have never seen such upside potential in one field as I see in the Grayburg-Jackson Field. Not only do I believe we will be increasing production by at least two and a half times to approximately 4k barrels a day in 36 months, but there is potential at deeper levels in the Field. Our research indicates that the stacked-play potential of the Northwest Shelf of the Permian Basin, combined with favorable drilling economics, supports our findings that by continuing to improve our leasehold position, well-spacing and completions, we will recover a greater portion of oil from the reserves," Dean Rojas, HNR CEO.