Business
Ripper Oil and Gas Inc. - Disposition Closes September 22, 2010
Ripper Oil and Gas Inc. - Disposition Closes September 22, 2010
About this update from Nevada King Gold Corp
[{"type":"text","content":"\n\n\n\n Sep. 22, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTSX VENTURE STOCK SYMBOL: RIP\n\nCALGARY, Sept. 22 /CNW/ - RIPPER OIL AND GAS INC. ("RIP") is pleased to announce that it has completed its previously announced sale of its conventional and coal bed methane assets at the Halkirk, Chigwell, Mikwan and Twining areas of Alberta to an arm's length purchaser in consideration for $13.2 million effective August 1, 2010.\nRipper intends to use the cash it expects to receive from the disposition of these assets to pay off its bank indebtedness. To the extent that it deems it advisable and to the extent that it has excess cash, Ripper's Board may also declare a dividend on its common shares.\nThe Corporation currently has 20,565,409 shares outstanding.\n\nRipper Oil and Gas Inc. ("RIP") is a publicly traded company on The TSX Venture Exchange. Further information is available on SEDAR at www.sedar.com.\n\nThe TSX Venture Exchange has neither approved nor disapproved of the information contained herein.\n\n\n%SEDAR: 00015775E\n\n\n\n \nMr. R.G. (Jerry) Ball, President and Chief Executive Officer, at (403) 662-2020, or Fax (403) 662-2029; RIPPER OIL AND GAS INC., Suite 1150, 606 - 4 Street S.W., Calgary, Alberta, T2P 1T1\n\n","length":2477,"tagName":"div"}]