HINTO Energy, Inc. (OTCPK:HENI) entered into an asset purchase and sale agreement to acquire the oil, gas wells and related assets in Greater Cisco Area of Uintah Basin from Pacific Energy & Mining Co. (OTCPK:PEMC) for $0.33 million in cash and convertible notes on May 9, 2012. As purchase consideration, HINTO Energy will pay $0.18 million in cash on closing of the acquisition and convertible promissory notes worth $0.15 million. The acquisition is expected to complete on or before June 1, 2012. David Elias of DME Capital, LLC acted as the public relations advisor in the acquisition. HINTO Energy, Inc. (OTCPK:HENI) completed the acquisition of oil, gas wells and related assets in Greater Cisco Area of Uintah Basin from Pacific Energy & Mining Co. (OTCPK:PEMC) on May 30, 2012.