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Canada : ANDERSON ENERGY inks deal to sell 1560 BOED of production.

Anderson Energy Ltd. has inked a deal to sell 1,560 BOED of production around 75% natural gas in a cash deal worth $37.5 million. The deal is further subject to normal closing adjustments.

Nearly $18.75 million of the transactions is expected to to close before the end of October 2012 and the balance to close before the end of November 2012.

With the closure of the transactions, the Company's bank lines will step down to $70 million.

Pro forma the Transactions, outstanding bank loans at September 30, 2012 will be around $52 million.

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Publication:Mena Report
Article Type:Brief article
Geographic Code:1CANA
Date:Oct 23, 2012
Words:109
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