New Rockwall Holdings looking to land drilling for expansion

In California, Westmoore Holdings, Inc. has changed its name to Rockwall Holdings, Inc. and entered into a Letter of Intent to purchase Resource Energy, a land drilling service provider, as part of a diversification strategy. RKWL will purchase Resource Energy for $200,000 and will assume $1,000,000 of that company’s debt. Following the acquisition, Rockwall will serve the Environmental Testing and Drilling Services sectors through its wholly owned subsidiaries and expects to generate about $2,000,000 in revenue from its drilling subsidiary in the first year. The company said that expansion into drilling is a good fit with its existing machining and custom manufacturing businesses focused on the environmental sector and are looking to expand into the oil and gas, well water, geothermal and mineral exploration markets.