CALGARY, ALBERTA–(Marketwired – Feb. 27, 2014) – Border Petroleum Corp. (TSX VENTURE:BOR) (“Border” or the “Corporation“) announces that its December 31, 2013 unaudited condensed consolidated interim financial statements and management’s discussion & analysis (“MD&A”) have been filed on SEDAR on February 27, 2014 and can be viewed at www.sedar.com.
The Corporation also advises that:
- It has finalized the acquisition of a section of land, one shut in well capable of production and a 6.5 km access road in the Red Earth area (the “Assets”) from an oil and gas company that was in receivership (the “Vendor”). Border acquired the Assets as a result of having acquired the secured debt of a creditor of the Vendor. The secured debt was acquired in January 2011 for a purchase price of $550,000. The Assets were transferred for a stated amount of $943,192 after giving effect to accrued interest on the secured debt.
- It has entered into a Purchase and Sale Agreement to divest certain of its Leduc assets for proceeds of $1.8 million. Closing is expected within 90 days as a result of a condition precedent that the Purchaser completes the necessary Alberta Energy Regulator well licence transfers. This disposition by Border remains subject to approval of the TSX Venture Exchange.
[expand title=”Advisories & Contact”]Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Border Petroleum Corp.
Al Kroontje
Interim CEO
(403) 538-8448
Border Petroleum Corp.
Steven Thompson
COO
(403) 538-8448
Border Petroleum Corp.
John Aihoshi
CFO
(403) 538-8448
(403) 444-5042 (FAX)