Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Yoho Announces Duvernay Plans for 4 Wells
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Yoho Resources Inc. has filed on SEDAR the financial statements for the six months ended March 31, 2014 and the related managements' discussion and analysis.
Highlights During fiscal Q2 2014, Yoho completed a transaction to sell its assets at Nig, British Columbia to Storm Resources Ltd. for total consideration of $86.9 million, consisting of $30 million cash and 13.6 million common shares of Storm. The $30 million cash component of the transaction price was used to eliminate Yoho's outstanding bank debt. Subsequent to the transaction, the Company's credit facilities were revised to total $50 million. Following the Asset Sale, Yoho's Duvernay production as a percentage of total production will increase, with a corresponding increase natural gas liquids production and higher field…- ✓ Full news archive — U.S., Canada & international coverage
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