Westmont 8-k Acquisition
8-Feb-2011
Entry into a Material Definitive Agreement, Completion of Acquisition or
Item 1.01. Entry Into A Material Definitive Agreement.
On February 4, 2011, Westmont Resources, Inc., a Nevada corporation (the "Company") executed in completion the Purchase and Sale Agreement of the Working Well Interest (the "Purchase Agreement"), in conjunction with Domestic Energy Corporation ("Domestic"), whereby the Company agreed to acquire approximately a 70% working interest in 92 Oil and Natural Gas Wells located in the Scott and Morgan Counties of Tennessee representing 100% of the Domestic Energy holdings in these assets. The collective grouping of these 92 wells is identified as a collective asset on the books of Westmont Resources Inc identified as the "Scott-Morgan 1" project.
Item 2.01 Completion of Acquisition or Disposition of Assets.
The transaction described in Item 1.01, herein above, was completed on February 4, 2011.
Section 7 - Disclosure
Item 7.01 Regulation FD Disclosure.
On February 8, 2011, the Company issued a press release announcing the Scott-Morgan 1 Project Acquisition. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
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