On August 19, 2026, Callan JMB Inc. and its subsidiary Callan Power LLC entered into an Asset Purchase Agreement to acquire oil and gas assets in the Williston Basin from Reger Oil, Inc. The $12 million purchase price consists of $10 million in Series A Perpetual Convertible Preferred Stock (1,000 shares) and $2 million in cash payable by December 31, 2026. Closing is expected by September 22, 2026, subject to stockholder approval under Nasdaq rules. Michael Reger will join the Board and serve as President of the subsidiary, which will be renamed Reger Energy, LLC. Callan JMB Inc. operates in the oil and gas exploration and production industry.
