Business
South Weslaco Gas Unit Sale
South Weslaco Gas Unit Sale.
About this update from Aminex Plc
[{"type":"text","content":"\n \nRNS Number : 5841M Aminex PLC 28 August 2013 \n \n\n28 August 2013\n \nSOUTH WESLACO GAS UNIT SALE\n \n \nAminex PLC ('Aminex' or the 'Company') is pleased to announce that it has reached agreement with Northcote Energy Ltd. (Aim: NCT), ('Northcote'), a publicly-traded oil and gas company, for the sale of its 25% interest in certain producing gas wells at the South Weslaco Field, Hidalgo County, Texas. Based on market prices at the time of the initial agreement, the consideration will be approximately US$450,000 which will be settled by a combination of cash and the issue to the Company of new shares in Northcote. The effective date for the sale will be 1 September 2013. \n \nSouth Weslaco is the smallest of Aminex's US properties and is not operated by Aminex. \n \nAminex Chairman, Brian Hall commented: \n\"The sale of this gas producing interest is the second in a divestment programme previously announced and follows our declared strategy for our US assets.\"\n \n \nFor further information:\n \nAminex PLC +44 (0) 20 7291 3100\nBrian Hall, Chairman\nMax Williams, Chief Financial Officer\n \nFTI Consulting \nEdward Westropp +44 (0) 20 7831 3113\nGeorgia Mann\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRKMGZRVNZGFZM\n ","length":2791,"tagName":"div"}]