Adino Announces Acquisition of Assets From Ashton Oilfield Services, Inc.

- November 22nd, 2011

Adino Energy Corporation (OTCQB:ADNY,OTCBB:ADNY) acquired all unencumbered assets of two limited partnerships managed by Ashton Oilfield Services, LLC.

Adino Energy Corporation (OTCQB:ADNY,OTCBB:ADNY) acquired all unencumbered assets of two limited partnerships managed by Ashton Oilfield Services, LLC.

As quoted in the press release:

Under the letter of intent, Adino will purchase the assets for six million dollars ($6,000,000) of preferred stock with an effective conversion price of $0.15 per share of common stock. The LOI allows for multiple closings as titles are cleared.

Click here to read the Adino Energy Corporation (OTCQB:ADNY) press release.

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