Equal Energy Ltd. (NYSE: EQU) announces that it has entered into a definitive agreement to sell several of its Canadian properties for a total cash consideration of $17.4 million, subject to customary adjustments typical of transactions of this type.
The asset disposition includes Equal's interests in the Halkirk, Wainwright, Alliance and Clair areas of Alberta. The asset disposition excludes Equal's Cardium assets in the Lochend area and certain royalty interests.
The disposition is anticipated to be completed on Oct. 12, 2012, and has an effective date of July 1, 2012.
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