Matra Petroleum AB (publ) (OM:MATRA) entered into a non-binding agreement to acquire 22 oil and gas leases in Texas from Melody Capital Partners, LP for $6.2 million on March 14, 2018. As part of consideration Matra will assume a debt of $4 million and issue 4.6 million shares. Melody Capital Partners will own 10.4% of the outstanding shares after the transaction. The transaction is subject to definitive agreement and other customary conditions. The definitive agreement is expected to close in March 2018, and the transaction is expected to close in April 2018.