Business
Central Natural Resources, Inc. signs Lease Agreement with Newfield Exploration and declares an increased Quarterly Dividend.
Central Natural Resources, Inc. signs Lease Agreement with Newfield Exploration and declares an increased Quarterly Dividend..
About this update from Central Natural Resources
[{"type":"text","content":"Central Natural Resources, Inc. (CTNR) signed a lease agreement whereby Newfield Exploration will lease 600 acres of CTNR's property in Pittsburgh County, Oklahoma for development for a period of 3 years. The lease calls for a bonus payment to CTNR of $1,200 per acre for a total of $720,000 in addition to a 3/16ths royalty on future production. CTNR received a down payment of $182,000 on May 7, 2007 to secure the lease, with the remaining $538,000 due upon the inception of the lease on May 25, 2007. \n\nAdditionally, the Board of Directors of CTNR declared a quarterly dividend of $0.20 per share, an increase of $0.05 per share from prior quarters, payable on June 15, 2007 to shareholders of record of June 1, 2007. \n","length":727,"tagName":"div"}]