CALLAN JMB INC. (CJMB) Form 8-K — Aug 31, 2026
Callan JMB Inc.'s subsidiary Callan Power LLC signed an Asset Purchase and Sale Agreement on August 26, 2026 to acquire 50% of The Pfanenstiel Company, LLC's right, title and interest in oil and gas leases and wells in North Dakota and Montana for $12.5 million in cash at closing, plus a $1.0 million escrow deposit to fund Callan's share of drilling and completion costs. Closing is expected on or before September 30, 2026, but remains conditioned on Callan's satisfactory due diligence, receipt of financing on acceptable terms, and required regulatory approvals — the buyer may terminate if any of these fail.
Key figures
- Deal Value Usd
- 12500000
- Asset States
- ["North Dakota","Montana"]
- Interest Acquired
- 50% of Seller's right, title and interest in oil and gas leases and wells in North Dakota and Montana
- Exhibit BWell Count
- 57
- Non Consented Wells
- 6
- Supplemental Escrow Usd
- 1000000
- Outside Termination Date
- 2026-09-30
- Largest Working Interest Well
- HELM 19-30HTF (operator: Whiting Oil and Gas Corporation)
- Largest Working Interest Share
- 0.054698
Price after filing
Close on the filing date to close N calendar days later (from $2.15). Historical, not a forecast.
AI analysis
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