CALGARY, ALBERTA–(Marketwired – Sept. 3, 2014) – Shoreline Energy Corp. (TSX:SEQ) (“Shoreline” or the “Corporation“) is pleased to announce that it has sold its interests in certain petroleum and natural gas properties wells, infrastructure and facilities located in the Doe area in Alberta and British Columbia to a buyer for total proceeds of $1 million pursuant to a purchase and sale agreement dated September 2, 2014. The sale represents approximately 686 net acres, and less than 10 Boe/d of production. The net proceeds of the sale will be used to meet general corporate expenses and reduce total corporate indebtedness.
RBC Capital Markets is acting as financial advisor to Shoreline and the ongoing strategic alternatives review process, which will continue to provide interested parties the opportunity to pursue transactions across Shoreline’s complete suite of remaining assets.
Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline offers investors a combination of value growth via lower risk development of additional oil reserves and production on its current lands. The Corporation’s common shares and convertible unsecured subordinated debentures are currently listed on the TSX under the trading symbols “SEQ” and “SEQ.DB”, respectively. Additional information regarding Shoreline is available under the Corporation’s profile at www.sedar.com or at the Corporation’s website, www.shorelineenergy.ca.