Alder Resources Ltd., Toronto, (Toronto Venture: ALR) plans to sell its 15% working interest in seven producing gas wells in West Virginia to an undisclosed buyer for an undisclosed price.

The company reports the wells have produced at rates much lower than anticipated and natural gas prices are lower than at the time it agreed to participate in the drilling. “The cash sales price…will, unfortunately, be significantly less than the company's original costs,” Alder said in a release, but “it is management's belief that the company and its shareholders will get better value by receiving and applying the cash proceeds that are expected to be received than retaining the wells.”

In January 2008 Alder acquired a 15% working interest in a seven-well gas drilling program on leases in Cabel, Mason and Jackson counties in West Virginia from Epsilon Energy USA Inc., a subsidiary of Epsilon Energy Ltd.