Eos begins tender offer for all shares of Dune Energy

Eos Petro Inc. and Dune Energy Inc.

Eos Petro Inc. (OTC:EOPT) and Dune Energy Inc. (OTC:DUNR) report that Eos' directly wholly owned subsidiary, Eos Merger Sub Inc., has begun a tender offer to acquire all of the outstanding shares of Dune common stock for $0.30 per share in cash, without interest and less any applicable withholding taxes.

The offer is being made pursuant to the terms of the previously announced definitive merger agreement entered into between Eos, Eos Merger Sub, and Dune on Sept. 17.

If the offer is successfully completed, Eos expects to acquire any of the Dune common shares not tendered in the offer through a merger transaction in which the remaining shares of Dune are converted into a right to receive the same consideration per share as paid in the offer.

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