American Patriot Oil & Gas Limited (ASX:AOW) entered into a letter of intent agreement to acquire additional conventional oil and gas assets in East Texas from a group of shareholders for $2.5 million on November 2, 2017. As of February 7, 2018, American Patriot Oil & Gas Limited (ASX:AOW) entered into purchase and sale agreement to acquire additional conventional oil and gas assets in East Texas from a group of shareholders for $2.5 million. The assets are being acquired using a $40 million funding from the debt facility provided by a significant US based funder. The deal is expected to close in early December. As of February 7, 2018, transaction is expected to close within 40 days. American Patriot Oil & Gas Limited (ASX:AOW) completed the acquisition of additional conventional oil and gas assets in East Texas from a group of shareholders for $2.2 million on November 2, 2017.