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News Breaks
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February 8, 2012
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| 18:57 EDT |  | SOQ |
| theflyonthewall.com: | Sonde Resources sees net gain of approximately $73M from Alberta acreage sale | | Sonde Resources announced that it has completed the sale of 26,240 gross undeveloped acres (24,383 net acres) in its Kaybob Duvernay play in Alberta for aggregate proceeds of $75M. The sale will result in a net gain of approximately $73M. Sonde will have approximately $54M after the repayment of its outstanding credit facility. The net proceeds from this sale will be used to focus on Sonde's Western Canada and North African strategy and for other corporate purposes. Sonde continues to own approximately 39,000 net undeveloped acres in Duvernay and Montney oil plays, in the Ante Creek and Bezanson area. :theflyonthewall.com |
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