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ArPetrol Ltd. sells North Dakota royalty interests


Published May 15, 2013
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ArPetrol Ltd.-2

ArPetrol Ltd. announces that its wholly-owned U.S. subsidiary has reached an agreement to sell its overriding royalty interests in non-operated properties in the Williston Basin of North Dakota to a private entity for gross proceeds of approximately US$595,000.

The purchase price is subject to customary operating and revenue adjustments, based on an effective date of May 15, 2013. Proceeds from the sale will be used for general corporate purposes and to pay U.S. tax arising from the disposition.

Completion of the sale of the royalty interests is subject to customary closing conditions, and closing is expected to occur within the next week.

Tags: ArPetrol Ltd.




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