One-Page Deal Sheet
Challenger Energy Sells Interest In Karoo Basin
Not Disclosed Challenger Energy Ltd
Announced Date
December 12,2012
Close Date
January 31,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
1
Location
Calculated Metrics( EV/Category)
Country
South Africa
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Challenger Energy Ltd is pleased to report that the Company has entered into an agreement to sell the 120 acre Maricopa property to an unrelated private buyer for a total purchase price of USD $1,250,000. Challenger’s 50% Working Interest (“WI”) proceeds are US$625,000 before costs and expenses associated with the sale. The expected closing of the sale is January 31, 2013, pending final due diligence.
Solimar Energy is the operator of the property with Challenger holding the remaining 50% WI.
The sale of this asset will provide Challenger with funding to progress its application in South…