DGAP-News: Activa Resources AG disposes of non-core Texas asset
(firmenpresse) - DGAP-News: Activa Resources AG / Key word(s): Miscellaneous
Activa Resources AG disposes of non-core Texas asset
05.03.2013 / 08:30
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Corporate News 5th March 2013
Activa Resources AG disposes of non-core Texas asset
- Sale of CERF/Navarro County raises USD 575,134
- Activa focusses increasingly on main assets
Bad Homburg, 5th March 2013. Activa Resources AG, an independent oil and
gas company with operational knowhow in the development and efficient
exploitation of oil and natural gas properties announces the sale of its
interest in the CERF/Navarro County oil project in Northern Texas.
As part of Activa's strategy to focus on high potential prospects which are
scalable with significant upside potential, the company has sold its
interests in the CERF/Navarro County prospect to Thurston Energy, LLC for
USD 575,134 in cash. The effective date of the transaction is January 1,
2013.
Activa acquired the interest as part of its acquisition of New Tuleta in
2007 in which the OSR-Halliday asset was acquired. Despite being a solid
producer for Activa CERF has not been material to Activa's strategy. The
project has generated an approximate 3 to 1 return on the original
investment made as part of the New Tuleta acquisition. The sales proceeds
amount to approx. 4 years of estimated future net revenues.
Leigh A. Hooper, Activa's CEO adds: 'The disposal of non-core assets is
part of our strategy to focus on our main assets. This sale follows the
disposals of Big Mule and certain Bright properties. The proceeds will be
used to fund the further development of OSR-Halliday, Activa's main asset.'
The Management Board
About Activa Resources AG
Activa Resources AG is an independent oil and gas company which focuses on
the acquisition, development and exploitation of oil and natural gas
properties. Activa Resources AG is listed on the Frankfurt stock exchange
and is based in Bad Homburg, Germany. The company's management and
technical team comprise oil industry experts with many years operational
experience at major international oil companies. Further information can be
found at www.activaresources.com.
Company contact:
Activa Resources AG
Hessenring 107
61348 Bad Homburg
www.activaresources.com
Telefon: +49 (0)6172-483 2352
FAX: +49 (0)6172-483 2353
lah(at)activaresources.com
Investor Relations contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt
www.gfei.de
Telefon: +49 (0)69-7430 3700
FAX: +49 (0)69-7430 3722
activa-resources(at)gfei.de
End of Corporate News
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