Tenth Avenue Petroleum Corp. (“TPC”) (formerly Jadela Oil Corp) is a Calgary-based junior oil and gas exploration company operating in Western Canada. Jadela also operates in Texas through a wholly owned subsidiary, Jadela Oil (US) Operating LLC (Jadela (US)). Jadela US has acquired rights to exploit oil and gas mineral rights equalling 7,128 gross acres (784 net acres) in Maverick County, Texas. Jadela US has drilled one Eagle Ford formation well (El Indio #1H). The land is located 20 miles south of Eagle Pass and directly west of El Indio Texas. The primary Texas target zone is the Eagle Ford formation.
As of May 20, 2015, there were 6,192,668 issued and outstanding common shares. There were 686,700 options entitling holder to purchase 686,700 common shares at an exercise price $ 0.075 per share. There were 1,666,000 warrants entitling holders to purchase 1,666,000 common shares. The exercise price for the warrants is $ 0.075 per common share for 1,564,000 warrants and $0.45 per common share for 102,000 warrants. Fully diluted there would be 9,265,368 common shares. The trading symbol on TSXV is “TPC”.