Petrus Resources Ltd. has announced that it has sold its oil and natural gas interests in the Peace River area of Alberta to Rising Star Resources Ltd., a private company, for total consideration of $30.0 million subject to customary closing adjustments. The consideration is comprised of $29.0 million in cash and 1.0 million shares of Rising Star at a deemed value of $1.00 per share. The Disposition closed on July 8, 2016 and has an effective date of April 1, 2016.
Petrus Resources Ltd.
|Address||2400, 240 – 4th Avenue S.W., Calgary, AB, T2P 4H4, CA|