Business
Advantage Announces Closing of $67 Million Non-Core Asset Dispositions
Advantage Announces Closing of $67 Million Non-Core Asset Dispositions
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\n Jun. 7, 2010 (Canada NewsWire Group) -- (TSX: AAV, NYSE: AAV)\n\n Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") (AAV - TSX, AAV - NYSE) announced today that the dispositions of non-core natural gas weighted assets located in South Eastern Alberta (as referenced in our press release dated May 10, 2010) have successfully closed for gross cash proceeds of $67 million, subject to customary adjustments. The proceeds have reduced bank indebtedness under Advantage's credit facility, which may be subsequently redrawn to fund future capital expenditures, and for general corporate purposes.\n\nAdvisory\n\nThe information in this press release contains certain forward-looking statements, including within the meaning of applicable securities laws. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "demonstrate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, the use of proceeds from the disposition of the assets. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including: the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments...