Armada aims to settle $2.04 million third tranche of funding agreement

Company intends to complete funding with Gulfstar Resources by June 15

By Devika Patel

Knoxville, Tenn., May 19 - Armada Oil, Inc. said it will raise about $2.04 million in a third tranche of a funding agreement with Gulfstar Resources, LLC.

Settlement is expected June 15.

Proceeds will be used for drilling of an initial test well on the company's Anadarko farmout acreage in Wyoming.

The oil and natural gas exploration and production company is based in Dallas.

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