Deal: Crestline and Sole Source stalking horse for Emerald Oil’s assets

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Emerald Oil Enters Into Stalking Horse Asset Purchase Agreement With CL Energy Opportunity Fund, L.P. and SSC Emerald LP

DENVER, CO–(Marketwired – May 25, 2016) – Emerald Oil, Inc. (OTC PINK: EOXLQ) (“Emerald” or the “Company”) today announced that the Company has entered into a stalking horse asset purchase agreement with a buyer formed and owned by CL Energy Opportunity Fund, L.P. and SSC Emerald LP, affiliates of Crestline Management, L.P. and Sole Source Capital LLC, respectively, to sell substantially all of the Company’s assets.

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