AUSTIN, Texas -- (Business Wire)
EASTERN AMERICAN NATURAL GAS TRUST (NYSE: NGT)
announced today that the time by which the Trust is required to either
sell its interest in the Royalty NPI it holds or engage an appraiser to
appraise the Royalty NPI has been extended from September 30, 2012 to
October 31, 2012.
The sponsor of the Trust, Energy Corporation of America (“ECA”), granted
the waiver in order to allow the Trust additional time in which to
market the Royalty NPI. ECA will have the right to purchase the Royalty
NPI at the appraised value if the Royalty NPI has not been sold by
October 31, 2012. Under the terms of the Trust Agreement, ECA also has a
right of first refusal to purchase the Royalty NPI on the terms offered
by any prospective third party purchaser prior to the October 31, 2012
Eastern American Natural Gas Trust is a grantor trust, which holds net
profit interests in approximately 600 producing gas wells located in
West Virginia and Pennsylvania.
This press release may contain statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements contained in this press release, other
than statements of historical facts, are "forward-looking statements"
for purposes of these provisions. An investment in Units issued by
Eastern American Natural Gas Trust is subject to the risks described in
the Trust's Annual Report on Form 10-K for the year ended December 31,
2011, and all of its other filings with the Securities and Exchange
Commission. The Trust's annual, quarterly and other filed reports are
available over the Internet at the SEC's web site at http://www.sec.gov.
Eastern American Natural Gas Trust
The Bank of New York
Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 1-800-
Source: Eastern American Natural Gas Trust