Business
Spyglass Resources Corp. Announces Closing of Previously Announced Non-Core Asset Dispositions and Declares the September Dividend
Spyglass Resources Corp. Announces Closing of Previously Announced Non-Core Asset Dispositions and Declares the September Dividend.
About this update from Spyglass Resources Corp
[{"type":"text","content":"\n \n \n Spyglass Resources Corp. Announces Closing of Previously Announced Non-Core Asset Dispositions and Declares the September Dividend\n \n \nSpyglass Resources Corp. Announces Closing of Previously Announced Non-Core Asset Dispositions and Declares the September Dividend\n\nAll values are in Canadian dollars unless otherwise indicated. Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1\n\n \n CALGARY, ALBERTA--(Marketwired - Sep 11, 2014) - Spyglass Resources Corp. (\"Spyglass\", or the \"Company\") (TSX:SGL)(OTCQX:SGLRF) announces the closing of the non-core asset dispositions disclosed in the Company's August 12, 2014 news release. Net proceeds of $43 million (after normal closing adjustments) have been received in the third quarter in addition to the second quarter proceeds of $7 million. Dispositions closed to date in the third quarter were reported as assets held for sale at June 30, 2014. The Company's credit facility has been reduced by $10 million to $365 million reflecting the impact of these transactions on the Company's borrowing capacity. \n September Dividend\n The Board has approved the September cash dividend of $0.015 per share ($0.18 per share annualized) payable on October 15, 2014 to shareholders of record on September 26, 2014. The ex-dividend date will be September 24, 2014. \n The dividend policy of Spyglass is at the discretion of the Board and is reviewed monthly in the context of a number of factors including current and forecast commodity prices, foreign exchange rates, an active commodity price risk management program, status of current operations and future investment opportunities. \n Reader Advisory and Note Regarding Forward Looking Information\n Certain statements contained within this press release, and in certain documents incorporated by reference into this document constitute forward looking statements. These statements relate to future events or future 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\", \"budget\", \"plan\", \"continue\", \"estimate\", \"expect\", \"forecast\", \"may\", \"will\", \"project\", \"predict\", \"potential\", \"targeting\", \"intend\", \"could\", \"might\", \"s...