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Tuesday, 02 December, 2008, 02:20 GMT | more >>

Sundance sells stakes in US pair



By Upstream staff 

Australia’s Sundance Energy has sold its minority interests in two US oil and gas prospects for A$52 million (US$46.35 million), the company said today.

Sundance said it had sold both its 10% stake in the Ashlands prospect in Oklahoma and its 6.25% interest in the MB prospect in Montana to Denver-based Antero Resources.

As a result, the company will be debt free and cashed up for ongoing developments and expansion, Sundance said.

"It not only delivers exceptional value to our shareholders but also places Sundance in a strong position to successfully exploit the balance of its portfolio," Sundance managing director Jayme McCoy said.


Tuesday, 02 October, 2007, 03:39 GMT  | last updated: Tuesday, 02 October, 2007, 05:10 GMT

Asset sale: Sundance sells off properties in Oklahoma and Montana (above)
 

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