Arcan Resources Ltd. executes on its commitment to reduce debt and focus on its core assets through the sale of approximately ten sections of undeveloped land assets in the Virginia Hills area of Alberta for $7.0 million.

These lands were isolated from Arcan's existing core production and infrastructure and did not include the successfully drilled horizontal well, or related lands, at Virginia Hills 13-32-64-13W5.

"The land sale is consistent with our stated intention to dispose of non-core assets through a number of disposition processes," said Arcan President Doug Penner.

Tags: Arcan Resources Ltd.