Result Energy Inc. announces closing of property disposition

About this update from Route 109 Resources Inc.

[{"type":"text","content":"\n\n\n\nCALGARY, April 17 /CNW/ - Result Energy Inc. ('Result'; TSX-V: RTE) is\npleased to announce that it has entered into an agreement for the sale to\nMarble Point Energy Ltd. of its producing petroleum and natural gas assets in\nthe Dodsland area of southwest Saskatchewan. The sale price for the properties\nis $11.8 million with a scheduled closing date of April 30, 2008 (subject to\nregulatory approval) and an effective date of March 1, 2008. The sale process\nwas conducted with the assistance of Rundle Energy Partners, who acted as\nexclusive agent.\n\n\nThe properties to be sold include the Company's 50% working interest in a\nshallow Viking natural gas field (48 wells) and related compression facilities\nat Dodsland, plus production (1 oil and 6 gas wells) and wellsite facilities\nat nearby East Dodsland. Proceeds from the disposition will be applied to\nreduce the Company's secured bank term debt.\n\n\nInvestors are cautioned that this news release contains forward looking\ninformation. Such information is subject to known and unknown risks,\nuncertainties and other factors that could influence actual results or events\nand cause actual results or events to differ materially from those stated,\nanticipated or implied in the forward-looking information. Readers are\ncautioned not to place undue reliance on forward-looking information, as no\nassurances can be given as to future results, levels of activity or\nachievements.\n\n\nResult Energy Inc. is a publicly traded Canadian energy company involved\nin the exploration and development of oil and gas properties in western\nCanada. Result trades on the TSX Venture Exchange under the symbol "RTE".\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nand accuracy of this release.\n\n\n","length":1853,"tagName":"div"}]

More updates from Route 109 Resources Inc.