UNAUDITED PRO FORMA FINANCIAL INFORMATIONGastar Exploration Inc. • May 5th, 2016 • Crude petroleum & natural gas
On February 19, 2016, Gastar Exploration Inc. (the “Company” or “Gastar”) entered into a Purchase and Sale Agreement, by and between the Company and THQ Appalachia I, LLC to sell substantially all of its producing assets and proved reserves and a significant portion of its undeveloped acreage in the Appalachian Basin for approximately $80.0 million, subject to certain adjustments and customary closing conditions, (the “Appalachian Basin Sale”). The Appalachian Basin Sale had an effective date of January 1, 2016 and was completed on April 8, 2016. After certain adjustments, cash proceeds from the Appalachian Basin Sale were approximately $76.6 million, subject to certain additional adjustments.
CLOSING AGREEMENTClosing Agreement • May 5th, 2016 • Gastar Exploration Inc. • Crude petroleum & natural gas
This Closing Agreement (this “Agreement”) is made and entered into this 16th day of December, 2015, by and among HUSKY VENTURES, INC., an Oklahoma corporation (“Husky”), SILVERSTAR OF NEVADA, INC., a Nevada corporation (“Silverstar”), MAXIMUS EXPLORATION, LLC, an Oklahoma limited liability company (“Maximus”), and ATWOOD ACQUISITIONS, LLC, an Oklahoma limited liability company (“Atwood”, and together with Husky, Silverstar and Maximus, collectively, “Sellers” and each, a “Seller”) and GASTAR EXPLORATION INC., a Delaware corporation (“Buyer”). Capitalized terms used herein that are not otherwise defined herein shall have the meaning ascribed to such terms in the PSA.
CLOSING AGREEMENTClosing Agreement • May 5th, 2016 • Gastar Exploration Inc. • Crude petroleum & natural gas • Texas
This Closing Agreement (this “Agreement”), dated as of April 7, 2016, is made and entered into by and between Gastar Exploration Inc., a Delaware corporation (“Seller”), and TH Exploration II, LLC, a Texas limited liability company (as successor-in-interest to THQ Appalachia I, LLC, a Delaware limited liability Company) (“Buyer”). Seller and Buyer are collectively referred to herein as the “Parties” and each, individually, as a “Party.” Capitalized terms used but not defined in this Agreement have the meanings given to such terms in the PSA (as hereinafter defined).
