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Anderson Energy Ltd Enters Into Agreements To Sell 1,560 BOED


Friday, 19 Oct 2012 09:00am EDT 

Anderson Energy Ltd announced that it has entered into agreements to sell 1,560 BOED of production (75% natural gas) for cash consideration of $37.5 million subject to normal closing adjustments (the Transactions). Approximately $18.75 million of the Transactions are scheduled to close before the end of October 2012 and the remainder are scheduled to close before the end of November 2012. The Company's bank lines will step down to $70 million after the closing of the Transactions. Pro forma the Transactions, outstanding bank loans at September 30, 2012 would be approximately $52 million. 

Company Quote

0.245
0.01 +4.26%
23 Jul 2014