2009-01-28-2009-01-07-2009-01-07

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$2.3MM
Description

Bought 50% WI in eight wells in Garfield County.

Privately owned, Denver-based Robert L. Bayless Producer LLC has acquired a 50% working interest in eight producing oil and gas wells in Colorado from PetroHunter Energy Corp., Denver, (OTCBB: PHUN) for $2.3 million. The wells are in Garfield County and are operated by EnCana Oil & Gas (USA), Inc. The sale was part of PetroHunter's plan of disposing of nonstrategic assets and will provide additional funds for its ongoing operations. PetroHunter chairman and chief executive Charles B. Crowell says, "The cash generated from this sale addresses some short-term cash needs and will enable us to remain focused on our objectives of developing Buckskin Mesa and our 7-million-acre prospect in Australia."