The TSX Venture Exchange has accepted for filing a purchase and sale agreement, dated Dec. 11, 2012, between Lynden USA Inc., a subsidiary of Lynden Energy Corp. and Breitburn Energy Partners LP. Under the purchase and sale agreement, the company's subsidiary has agreed to sell its 43.75-per-cent interest in 16 gross (7.0 net) Wolfberry project wells and its right to earn a 43.75-per-cent working interest in the underlying leases covering approximately 1,440 gross acres (630 acres) in Texas in the United States.
The transaction closed on Dec. 28, 2012. Breitburn paid the company's subsidiary $25-million (U.S.), subject to customary closing adjustments.
For further information, please see the company's news release dated Dec. 11, 2012.