By OGJ editors
HOUSTON, May 25 -- Pexcon Inc., an oil and gas exploration and development company in Pompano, Fla., has signed a letter of intent to acquire Tekoil & Gas Corp., a private technology company based in Orlando.
Pexcon said the acquisition will enable it to acquire and rehabilitate small to medium-sized oil and gas fields and marginal wells.
Pexcon will change its name to Tekoil & Gas Corp. when the transaction closes in July.