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Futures and Commodity Market News |
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Mon May 12, 2008 |
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Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts |
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May 09, 2008 (M2 EQUITYBITES via COMTEX) -- Samson Oil & Gas (AMEX:SSN) said on 8 May that the Australian based oil & gas company has executed and settled an agreement for the sale of its properties located in the Amber field in Grady County, Oklahoma, to Kaiser-Francis Anadarko Limited Partnership for USD4.76m. The company stated that it had a 37.5% and 32.5% working interest in 1,280 acres with nine producing wells. The company disposed of the field as it had limited growth potential in the near term, with no drilling currently planned. Samson will receive proceeds in the value of USD2.94m from the sale and purchase agreement. The proceeds will be used to repay a portion of its outstanding convertible note facility with Macqaurie Bank Limited and USD60,000 to unwind 50,000 mmbtu of its USD6.03 forward swap from January 2009 to October 2009. Comments on this story may be sent to admin@m2.com |
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(C)2008 M2 COMMUNICATIONS LTD http://www.m2.com ********************************************************************** As of Monday, 05-05-2008 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND o Please read the End User Agreement. News provided by COMTEX |
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