This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Berkley Resources sells 10% of Senex for $240,000 2009-11-06 05:00 ET - News Release Mr. Matt Wayrynen reports BERKLEY RESOURCES - NEWS RELEASE FOR DISSEMINATION
Berkley Resources Inc. has sold its 10-per-cent interest in the properties in Senex area, Alberta, to its joint interest partner, for total consideration of approximately $240,000. Although Senex continues to be an attractive long-term project with substantial amounts of oil and natural gas in place, development costs to bring the project to production continue to increase. The company determined that a project such as Senex would be more appropriate for a mid-size or larger operator that has substantial discretionary cash flow rather than a junior operator that must rely on monies raised via equity financing in order the continue to finance the project's development. This has become increasingly difficult with the prevailing market conditions. Accordingly, the company decided to release from Senex and focus on less-capital-intensive projects that provide opportunities for early cash flow and better return on investment.
The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page