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Press release from Marketwire

Crocotta Energy Announces Closing of Previously Announced Sale of Properties

Monday, November 08, 2010

Crocotta Energy Announces Closing of Previously Announced Sale of Properties17:06 EST Monday, November 08, 2010CALGARY, ALBERTA--(Marketwire - Nov. 8, 2010) - Crocotta Energy Inc. ("Crocotta") (TSX:CTA) is pleased to announce that it has closed its $30 million sale of certain assets (the "Assets") in Pembina, Niton and Chip Lake. Crocotta estimates current net production to be approximately 2,100 boepd comprised of approximately 1/3 light oil and natural gas liquids and 2/3 natural gas. Crocotta has also established a $55 million revolving demand loan credit facility after giving effect to the sale of the Assets. Crocotta's current net debt is approximately $27 million. BOE Conversions BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.FOR FURTHER INFORMATION PLEASE CONTACT: Robert ZakreskyCrocotta Energy Inc.President and Chief Executive Officer(403) 538-3736ORNolan ChicoineCrocotta Energy Inc.Vice President, Finance and Chief Financial Officer(403) 538-3738OR700, 639 -5th Ave SWCrocotta Energy Inc.Calgary, Alberta T2P 0M9(403) 538-3737(403) 538-3735 (FAX)www.crocotta.ca