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  • PR Newswire2 months ago

    KLR Energy Acquisition Corp. and Tema Oil and Gas Company to Combine to form Rosehill Resources, a Pure-Play Delaware Basin Company

    HOUSTON, Dec. 20, 2016 /PRNewswire/ -- KLR Energy Acquisition Corp. ("KLR Energy") (NASDAQ: KLRE, KLREU, KLREW), an oil and gas exploration and production focused special purpose acquisition entity, today announced that it has entered into a Business Combination Agreement with Tema Oil and Gas Company ("Tema"), a private company with assets in the core of the Delaware Basin in Loving County, Texas. The transaction was unanimously approved by the respective boards of directors of the companies and is expected to close in the first half of 2017, subject to certain closing conditions, including receipt of KLR Energy shareholder approval. Upon completion of the business combination, KLR Energy will change its name to Rosehill Resources Inc. ("Rosehill Resources") and will apply to continue to trade on The NASDAQ Capital Market under the new ticker symbols ROSE, ROSEU, ROSEW. Rosehill Resources intends to significantly accelerate drilling on Tema's high-quality operated acreage position and pursue strategic acquisitions.

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