This excerpt taken from the REXX 10-Q filed Nov 14, 2007.
Oil And Gas Property Acquisitions
On October 12, 2007, the Companys wholly owned subsidiary, Rex Energy I, LLC, acquired a forty percent (40%) working interest in certain undeveloped oil and gas leases covering approximately 5,878 net acres located in Knox County in the State of Indiana. The interests were acquired from HAREXCO, Inc., an Illinois corporation doing business in the State of Indiana under the assumed name of Harris Energy Company (Harris Energy), for a purchase price of $235,133.16. In connection with this sale, Harris Energy reserved a four percent (4.0%) of forty percent (40.0%) overriding royalty interest in the conveyed properties and a ten percent (10.0%) of forty percent (40.0%) back-in-after-payout working interest in the first five net wells drilled on the acquired properties, the properties previously acquired from Harris Energy on May 24, 2007, or any other properties which are subsequently acquired from Harris Energy. Rex Energy I, LLC was obligated to purchase the above interests pursuant to the terms of a purchase and sale agreement dated May 24, 2007, which was previously entered into by its predecessor in interest, Rex II.